The City Commission, determining that it is necessary for the best interests of the public to halt property value deterioration and increase property tax valuation where possible in its business district, to eliminate the causes of that deterioration and to promote economic growth, hereby declares its intention to and hereby does create and provide for the operation of the City of Imlay City Downtown Development Authority, pursuant to Public Act No. 197 of the Public Acts of 1975, being M.C.L.A. §§ 125.1651 et seq.
(Ord. 13.3, passed 1-20-76)