§ 154.07 FINANCE ACTIVITIES.

   (A)   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 § 154.08;

      (3)   Moneys borrowed and to be repaid as authorized by § 154.09;

      (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 §§ 154.10 through 154.12; and

      (6)   Moneys obtained from other sources approved by the Township Board.

   (B)   Moneys 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 Pub. Act 197 of 1975, as amended, being M.C.L.A. §§ 125.1651 through 125.1680. Except as provided by this chapter, the township shall not obligate itself, nor shall it ever be obligated to pay any sums from public funds, other than moneys received by the township pursuant to this section, for or on account of the activities of the Authority.

(Ord. 89-5 DDA, passed 4-3-1989)