Title 120, PORT DISTRICTS

Sec. 6. Before the issuance of any bonds, notes, or other evidences of indebtedness under this act, the secretary-treasurer of an authority shall execute a bond in the penal sum of $100,000.00, conditioned upon the faithful performance of the duties of the office and executed by …

Sec. 7. An authority may organize and create advisory committees and councils to serve at the pleasure of the authority for terms and purposes considered to be in the best interest of furthering the intent and purpose of this act. The committees and councils shall be made up of p…

Sec. 8. (1) An authority may do 1 or more of the following: (a) Adopt, amend, and repeal bylaws for the regulation of its affairs and the conduct of its business. (b) Sue and be sued on the same basis as this state. (c) Adopt and register with the secretary of state an official s…

Sec. 9. An authority may do 1 or more of the following: (a) Appear on its own behalf before any of the following: (i) Boards, commissions, departments, or other agencies of the federal government or of any state or international conferences and before committees of the congress o…

Sec. 10. An authority may do 1 or more of the following: (a) Subject to the authority of the federal government and this state and with the agreement of the constituent units, all of the following: (i) Provide for the preservation of navigation within its territorial jurisdiction…

Sec. 11. Except with respect to docks or wharves owned, controlled, or operated by, the authority, this act shall not be construed to impose a duty upon an authority to a person using its waters in regard to the safety thereof, or to render an authority liable for loss of life or…

Sec. 12. (1) An authority may acquire by purchase or lease, when it considers the purchase or lease expedient, lands, structures, property, rights, rights of way, franchises, easements, and other interests in lands as it considers necessary or convenient for the construction or o…

Sec. 13. (1) An authority and 1 or more constituent units may enter into a contract or contracts for the acquisition, construction, improvement, enlargement, extension, operation, or financing of facilities and for the payment of the cost thereof by the contracting constituent un…

Sec. 14. (1) An authority may provide by resolution for the issuance of revenue bonds of the authority for the purpose of providing funds for paying the cost of facilities, or for paying the cost of an extension, enlargement, or improvement of a facility or facilities. The bonds …

Sec. 14a. A petition under this act, including the circulation and signing of the petition, is subject to section 488 of the Michigan election law, 1954 PA 116, MCL 168.488. A person who violates a provision of the Michigan election law, 1954 PA 116, MCL 168.1 to 168.992, applica…

Sec. 15. An authority shall determine the form of the bonds of each series issued pursuant to section 14, including any interest coupons to be attached thereto, the date of the bonds, the denomination of the bonds, and the place of payment of principal and interest, which may be …

Sec. 16. Bonds issued under this act must be secured by a trust agreement by and between the authority and a corporate trustee. The corporate trustee may be any trust company or bank having the powers of a trust company, within or without this state. The trust agreement may pledg…

Sec. 17. (1) Bonds issued under this act are securities in which all public officers and public agencies of the state and its political subdivisions and all banks, trust companies, savings and loan associations, investment companies, and others carrying on a banking business, all…

Sec. 18. (1) In addition to the bonds authorized in section 14, bonds may be issued for the purpose of acquiring, constructing, improving, enlarging, extending, operating, or financing facilities or refunding prior indebtedness of the authority, as follows: (a) By the issuance of…

Sec. 19. Bonds or notes issued under this act by an authority are validated. An authority acting under this act or any constituent unit, including the county, shall not contest the validity of bonds or notes issued under this act or any contract which provides the security theref…

Sec. 19a. (1) An authority may enter into, amend, or terminate any ancillary financing facility, as it determines necessary or appropriate, for any of the following purposes: (a) To facilitate the issue, sale, resale, purchase, repurchase, or payment of bonds, or the making or pe…

Sec. 20. Any 1 or more municipalities or other public corporations, either within or without an authority, may contract for the use of facilities from an authority operating under this act. The charges specified in a contract are subject to increase by the authority at any time i…

Sec. 21. The governing bodies of constituent units may, by majority vote, and with or without consideration, transfer or cause to be transferred to the authority or may place in its possession and control, by lease, or other contract or agreement, either for a limited period or i…

Sec. 22. (1) An authority created under this act shall be exempt from and shall not be required to pay taxes on property, both real and personal, belonging to the authority, which is used exclusively for a public purpose. However, the exemption shall not apply to property belongi…

Sec. 23. (1) An authority created on or after May 1, 1984 shall not later than 2 years after its creation prepare or cause to be prepared a plan for the future development, construction, and improvement of the facilities, including the maps, profiles, and other data and descripti…

Sec. 24. (1) The authority shall submit in writing a detailed estimate of the budget required for the business and conduct of an authority's affairs, initially, for a 2-year period, and annually thereafter to the governing bodies of its constituent units, the department of licens…

Sec. 25. If at the end of a fiscal year a surplus of unencumbered funds remains after providing for the operating expenses of an authority, the funds do not lapse back to this state or constituent units but are carried forward for the next fiscal year of the authority.

Sec. 26. For the purpose of making surveys, soundings, drillings, examinations, and investigations as it considers necessary or convenient for the purposes of this act, an authority and its authorized agents and employees may enter upon the lands, waters, and premises in the auth…

Sec. 27. (1) The employees of an authority, existing on the effective date of this act, of a city or county which creates or participates in an authority created under this act shall become the employees of that succeeding authority. (2) Each employee at his or her option may tra…

Sec. 28. An authority shall make an annual report of its activities within 3 months after the close of its fiscal year to the governor and to the governing body of each constituent unit. The report shall include a complete operating and financial statement covering its operations…

Sec. 29. This act, being necessary for the welfare of the state and its inhabitants shall be liberally construed to effect its purposes. Powers granted in this act shall be cumulative and not exclusive of one another and may be exercised notwithstanding that bonds, notes, or othe…

Sec. 30. (1) Act No. 234 of the Public Acts of 1925, as amended, being sections 120.1 to 120.35 of the Compiled Laws of 1970, is repealed. (2) Subsection (1) shall not take effect until the constituent bodies of each port authority created pursuant to Act No. 234 of the Public Ac…