324.79112 Lease agreements with 1 or more local units of government; apportionment of revenue.
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324.79112 Lease agreements with 1 or more local units of government; apportionment of revenue.
Sec. 79112.
The department may enter into lease agreements for purposes of this part with 1 or more local units of government or public colleges or universities acting jointly with the department as a lessor. Revenue from each lease shall be apportioned according to the proportional share of the investments made by the department and the local unit or units of government or public colleges or universities in the construction of nonrevenue-producing harbor facilities and in consideration of the relative land investments of the entities.
History: Add. 1995, Act 58, Imd. Eff. May 24, 1995 ;-- Am. 2003, Act 19 , Imd. Eff. June 18, 2003
Popular Name: Act 451
Popular Name: NREPA