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Code · Michigan · Chapter 125 — Planning, Housing, and Zoning

125.4420 Dissolution of authority; resolution; disposition of property and assets.

75 words·~1 min read·/mi/chapter-125/125-4420

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125.4420 Dissolution of authority; resolution; disposition of property and assets.
Sec. 420.
An authority that completes the purposes for which it was organized shall be dissolved by resolution of the governing body. The property and assets of the authority remaining after the satisfaction of the obligations of the authority shall belong to the municipality or to an agency or instrumentality designated by resolution of the municipality.
History: 2018, Act 57 , Eff. Jan. 1, 2019
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