(A) Finding sources. The activities of the Authority shall be financed from one or more of the following sources:
(1) Donations to the Authority for the performance of its functions;
(2) Proceeds of a tax imposed pursuant to § 12 of Public Act 197 of 1975, being M.C.L.A. § 125.1662;
(3) Money borrowed and to be repaid as authorized by § 13 of Public Act 197 of 1975, being M.C.L.A. § 125.1663;
(4) 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;
(5) Proceeds of a tax increment financing plan, established under §§ 14, 15 and 16 of Act 197;
(6) Proceeds from a special assessment district created as provided by law; and
(7) Money obtained from other sources approved by the governing body of the municipality.
(B) Deposit of money not covered under division (A) above. Money received by the Authority and not covered under division (A) above shall immediately be deposited to the credit of the Authority, subject to disbursement pursuant to this subchapter. Except as provided in this subchapter, the municipality shall not obligate itself, nor shall it ever to obligated to pay any sums from public funds, other than money received by the municipality pursuant to this section, for or on account of the activities of the Authority.
(1992 Code, §§ 120.601, 120.602) (Ord. 2-92, passed 2-10-1992)