ARTICLE IV. DOWNTOWN DEVELOPMENT AUTHORITY1
12-82. Determination of necessity; purpose.
The township board hereby determines that it is necessary for the best interests of the public to create a public body corporate which shall operate to halt property value deterioration, eliminate the causes of that deterioration, increase property tax valuation where possible in the business district of the township, and promote economic growth, pursuant to Public Act No. 197 of 1975 (MCL 125.1651 et seq.).
(Ord. No. 170, § 2, 1-4-1993)
12-83. Definitions.
The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in Act 197 or as hereinafter in this section, except where the context clearly indicates a different meaning:
Act 197 means Public Act No. 197 of 1975 (MCL 125.1651 et seq.).
Authority means the downtown development authority of the township created by this article.
Board or board of directors means the board of directors of the authority, the governing body of the authority.
Downtown district means the downtown district designated by this article, as now existing or hereafter amended, and within which the authority shall exercise its powers.
(Ord. No. 170, § 3, 1-4-1993)
12-84. Creation of authority.
There is hereby created, pursuant to Act 197, a downtown development authority for the township. The authority shall be a public body corporate and shall be known and exercise its powers under title of the "Downtown Development Authority of the Charter Township of Port Huron." The authority may adopt a seal, may sue and be sued in any court of this state and shall possess all of the powers necessary to carry out the purposes of its incorporation as provided by this article and Act 197. The enumeration of a power in this article or in Act 197 shall not be construed as a limitation upon the general powers of the authority.
(Ord. No. 170, § 4, 1-4-1993)
12-85. Termination.
Upon completion of its purposes, the authority may be dissolved by the township board. The property and assets of the authority, after dissolution and satisfaction of its obligations, shall revert to the township.
(Ord. No. 170, § 5, 1-4-1993)
12-86. Description of downtown district.
The downtown district shall consist of the territory in the township described in exhibit A, made a part hereof by reference and on file in the office of the township clerk, subject to such changes as may hereinafter be made pursuant to this article and Act 197.
(Ord. No. 170, § 6, 1-4-1993)
12-87. Board of directors.
The authority shall be under the supervision and control of the board. The board shall consist of the township supervisor and nine members. Members shall be appointed by the township supervisor, subject to approval by the township board. Not less than a majority of the members shall be persons having an interest in property located in the downtown district. Not less than one of the members shall be a resident of the downtown district, if the downtown district has 100 or more persons residing within it. Members shall be appointed to serve for a term of four years, except that of the members first appointed, an equal number, as near as is practicable, shall be appointed for terms of one year, two years, three years and four years. A member shall hold office until the member’s successor is appointed and qualified. Before assuming the duties of office, a member shall qualify by taking and subscribing to the constitutional oath of office. An appointment to fill a vacancy shall be made by the township supervisor for the unexpired term only. Members of the board shall serve without compensation, but shall be reimbursed for actual and necessary expenses. The chairperson of the board shall be elected by the board. The board shall adopt bylaws governing its procedures subject to the approval of the township board. In the event that the board determines to employ a director of the authority, such director shall furnish a bond in the penal sum of $5,000.00 payable to the authority for use and benefit of the authority and shall file the same with the township clerk.
(Ord. No. 170, § 7, 1-4-1993)
12-88. Powers of authority.
Except as specifically otherwise provided in this article, the authority shall have all powers provided by law subject to the limitations imposed by law and herein.
(Ord. No. 170, § 8, 1-4-1993)
12-89. Fiscal year; adoption of budget.
(a) The fiscal year of the authority shall begin on January 1 of each year and end on December 31, or such other fiscal year as may hereafter be adopted by the township board.
(b) The board shall prepare annually a budget and shall submit it to the township board for approval in the manner and at the time, and which budget shall contain the information, required of municipal departments. The board shall not finally adopt a budget for any fiscal year until the budget has been approved by the township board. The board may, however, temporarily adopt a budget in connection with the operation of any improvements which have been financed by revenue bonds where required to do so by the article authorizing the revenue bonds.
(c) The authority shall submit financial reports to the township board at the same time and on the same basis as departments of the township are required to submit reports. The authority shall be audited annually by the same independent auditors auditing the township and copies of the audit report shall be filed with the township board.
(Ord. No. 170, § 9, 1-4-1993)
12-90—12-106. Reserved.
State Law reference—Downtown development authority, MCL 125.1651 et seq.