Michigan § 125.4614 - Financing sources; disposition.
Full text of Michigan Michigan Compiled Laws § 125.4614 — Financing sources; disposition., with citation guidance and answers to common questions.
§ 125.4614. Financing sources; disposition.
(1) The activities of the authority shall be financed from 1 or more of the following sources:
(a) Donations to the authority for the performance of its functions.
(b) Money borrowed and to be repaid as authorized by sections 616 and 617.
(c) Revenues from any property, building, or facility owned, leased, licensed, or operated by the authority or under its control, subject to the limitations imposed upon the authority by trusts or other agreements.
(d) Proceeds of a tax increment financing plan established under sections 618 to 620.
(e) Proceeds from a special assessment district created as provided by law.
(f) Money obtained from other sources approved by the governing body of the municipality or otherwise authorized by law for use by the authority or the municipality to finance a development program.
(2) Money received by the authority and not covered under subsection (1) shall immediately be deposited to the credit of the authority, subject to disbursement under this part. Except as provided in this part, the municipality shall not obligate itself, and shall not be obligated, to pay any sums from public funds, other than money received by the municipality under this section, for or on account of the activities of the authority.
Frequently Asked Questions About Michigan § 125.4614
What does Michigan Compiled Laws § 125.4614 cover?
Section 125.4614 ("Financing sources; disposition.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 125.4614?
A common citation format is "Michigan Compiled Laws § 125.4614" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 125.4614 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.