The activities of the 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 imposed pursuant to Section 12 of Public Act 197 of 1975, being M.C.L.A. § 125.1662. However, the Board shall not request that the Village Council authorize such a tax without first holding a Public Hearing, following the sending of a notice to every property owner in the district.
(C) Monies borrowed and to be repaid as authorized by Section 13 of Public Act 197 of 1975, being M.C.L.A. § 125.1663.
(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 through 16 of Public Act 197 of 1975, being M.C.L.A. §§ 125.1664 through 125.1666.
(F) Monies obtained from other sources approved by the Village Council.
(G) Monies received by the Authority and not covered under division (A) shall be immediately deposited to the credit of the Authority, subject to disbursement pursuant to Public Act 197 of 1975. Except as provided in Public Act 197 of 1975, the village shall not obligate itself, nor shall it ever be obligated to pay any sums from public monies, other than monies received by the village pursuant to this section, for or on account of the activities of the Authority.
(Ord. 35.01, passed 8-12-85)