(A) Pursuant to the authority vested in the township by Public Act 281 of 1986, as it may be amended from time to time, the Local Development Finance Authority of the Township of Summit shall be and is hereby created.
(B) The Authority shall exercise the powers and duties as are provided by and in accordance with the provisions of Public Act 281 of 1986, as it may from time to time be amended, with the full power and authority to adopt development and tax increment financing plans and to provide for the implementation of those plans through the issuance of bonds as authorized by Public Act 281 of 1986 or otherwise.
(C) The boundaries of the Authority District shall be as set forth in Attachment “A” attached to the resolution passed 4-27-1993, and made a part hereof.
(D) No funds of the Authority shall be disbursed except as provided for in the budget of the Authority as it may from time to time be approved by the Board of the Authority and the Board of Summit Township pursuant to the provisions of Public Act 281 of 1986, as it may from time to time be amended.
(E) The appointment of a minimum of 7 persons to serve on the Board of Authority be confirmed.
Name | Term |
Name | Term |
Summit Township: | 4 years |
4 years | |
3 years | |
3 years | |
2 years | |
2 years | |
1 year | |
Jackson Community College: | 4 years |
Jackson County Commissioners: | 4 years |
Jackson Public School District: | 4 years |
4 years | |
(F) The Township Clerk is hereby authorized and directed to promptly file a certified copy of this section with the Secretary of State for the State of Michigan, and to publish a copy of this section at least once as provided by Public Act 281 of 1986.
(Res. passed 4-27-1993)