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) Monies borrowed and to be repaid as authorized by Section 13 of Act 197 of the Public Acts of 1975.
(c) 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.
(d) Proceeds of a tax increment financing plan, established under Sections 14-16 of Act 197 of the Public Acts of 1975, as amended.
(e) Monies obtained from other sources approved by the City Council.
Monies received by the Authority and not covered under Section 11, Subsection 1 of Act 197 of the Public Acts of 1975, as amended, shall be immediately deposited to the credit of the Authority, subject to disbursement pursuant to Act 197 of the Public Acts of 1975, as amended. Except as provided in Act 197 of the Public Acts of 1975, as amended, the City shall not obligate itself, nor shall it ever be obligated, to pay any sums from public monies received by the City pursuant to this section, for or on account of the activities of the Authority.
(Res. 95-155. Passed 3-13-95.)