Section 125.2885 - Special assessment; levy; borrowing money and issuing bonds.
CORRIDOR IMPROVEMENT AUTHORITY ACT (EXCERPT)
Act 280 of 2005
125.2885 Special assessment; levy; borrowing money and issuing bonds.
Sec. 15.
(1) An authority with the approval of the governing body may levy a special assessment as provided by law.
(2) The municipality may at the request of the authority borrow money and issue its notes under the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821, in anticipation of collection of the ad valorem tax authorized in this section.
History: 2005, Act 280, Imd. Eff. Dec. 19, 2005