The activities of the Downtown Development Authority shall be financed from one or more of the following sources;
(A) Donations to the Authority for the performance of its functions.
(B) Proceeds of a tax pursuant to Section 12 of Act 197 of the Public Acts of 1975.
(C) Money borrowed and to be repaid as authorized by Section 13 of Act 197 of the Public Acts of 1975.
(D) 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.
(E) Proceeds of a tax increment financing plan, established under Sections 14 and 16 of Act 197 of the Public Acts of 1975.
(F) Proceeds from a special assessment district created as provided by law.
(G) Money obtained from other sources approved by the City Council.
(H) Money received by the Authority and not covered under division (A) through (G) shall immediately be deposited to the credit of the Authority, subject to disbursement pursuant to Act 197 of the Public Acts of 1975. Except as provided in Act 197 of the Public Acts of 1975, the city shall not obligate itself, nor shall it ever be obligated to pay any sums from public funds, other than money received by the city pursuant to this section, for or on account of the activities of the Authority.
(Ord. 687, passed 3-19-90)