Section 125.2916 - Annexation or consolidation with another municipality. - Michigan Statutes

NEIGHBORHOOD IMPROVEMENT AUTHORITY ACT (EXCERPT)
Act 61 of 2007

125.2916 Annexation or consolidation with another municipality.

Sec. 6.

If a development area is part of an area annexed to or consolidated with another municipality, the authority managing that development area shall become an authority of the annexing or consolidated municipality. Obligations of that authority incurred under a development or tax increment plan, agreements related to a development or tax increment plan, and bonds issued under this act shall remain in effect following the annexation or consolidation.

History: 2007, Act 61, Imd. Eff. Sept. 19, 2007