HISTORICAL NEIGHBORHOOD TAX INCREMENT FINANCE AUTHORITY ACT (EXCERPT)
Act 530 of 2004
125.2865 Dissolution.Sec. 25.
An authority that has completed the purposes for which it was organized shall be dissolved by ordinance of the governing body. The property and assets of the authority remaining after the satisfaction of the obligations of the authority belong to the municipality.
History: 2004, Act 530, Imd. Eff. Jan. 3, 2005
© 2015 Legislative Council, State of Michigan