(A) The Authority with the approval of the governing body may levy an ad valorem tax on the real and tangible personal property not exempt by law and as finally equalized in the downtown district. The tax shall be collected by the township. The township shall collect the tax at the same time and in the same manner as it collects other ad valorem taxes. The tax shall be paid to the Township Treasurer and credited to the General Fund of the Authority for purposes of financing only the operations of the Authority.
(B) The township may at the request of the Authority borrow money and issue its notes therefor pursuant to Pub. Act 202 of 1943, as amended in anticipation of collection of the ad valorem tax authorized in this section.
(Ord. 89-5 DDA, passed 4-3-1989)