[Ord. No. 386,
passed 8-23-1982]
This chapter shall be known and may be cited as the "Downtown
Development Authority Chapter."
[Ord. No. 386,
passed 8-23-1982]
The terms used in this chapter shall have the same meanings
as given to them in Act 197, or as hereinafter in this section provided,
unless the context clearly indicates to the contrary. As used in this
chapter:
(a)
AUTHORITY — Means the City of Coldwater Downtown Development
Authority created by this chapter.
(b)
ACT 197 — Means Act 197 of the Public Acts of 1975, as amended.
(c)
BOARD or BOARD OF TRUSTEES — Means the Board of Trustees of
the Authority, and the governing body of the Authority.
(d)
CHIEF EXECUTIVE OFFICER — Means the City of Coldwater Mayor.
(e)
CITY — Means the City of Coldwater, Michigan.
(f)
COUNCIL — Means the City Council of Coldwater.
(g)
DOWNTOWN DEVELOPMENT TAX — Means the tax authorized by this
chapter, pursuant to Act 197, to be imposed by the Authority in the
downtown area.
(h)
DOWNTOWN DISTRICT — Means the downtown district designated
by this chapter as now existing or hereafter amended.
[Ord. No. 386,
passed 8-23-1982]
Council hereby determines that it is necessary for the best
interests of the City to halt property value deterioration and increase
property tax valuation where possible in the business district of
the City, to eliminate the causes of that deterioration and to promote
economic growth by establishing a Downtown Development Authority pursuant
to Act 197.
[Ord. No. 386,
passed 8-23-1982]
There is hereby created, pursuant to Act 197, a Downtown Development
Authority for the City. The Authority shall be a public body corporate
and shall be known as and exercise its powers under the title of "City
of Coldwater Downtown Development Authority." The Authority may adopt
a seal, may sue and be sued in any court of this State, and shall
possess all of the powers necessary to carry out the purpose of its
incorporation as provided by this chapter and Act 197. The enumeration
of a power in this chapter or in Act 197 shall not be construed as
a limitation upon the general powers of the Authority.
[Ord. No. 393,
passed 10-10-1983]
The downtown district, in which the Authority shall exercise
its powers as provided by Act 197, shall consist of all that territory
and land in the Central Business District, as described in the Downtown
Development Authority Plan, subject to such changes as may hereafter
be made pursuant to this chapter and Act 197.
[Ord. No. 386,
passed 8-23-1982]
The Authority shall be under the supervision and control of
a Board of Trustees consisting of the Mayor and eight members appointed
as provided by Act 197, Section 4(1). The members shall be appointed
by the Mayor, with the concurrence of Council, and shall hold office
for the terms provided in Act 197. Each member shall hold office until
the member's successor is appointed, and shall serve without
compensation, but shall be reimbursed for actual and necessary expenses.
[Ord. No. 386,
passed 8-23-1982]
Except as specifically otherwise provided in this chapter, the
Authority shall have all powers provided by law, subject to the limitations
imposed by law and herein.
[Ord. No. 386,
passed 8-23-1982]
(a)
The fiscal year of the Authority shall begin on July 1 of each year
and end on June 30 of the following year, or such other fiscal year
as may hereafter be adopted by the City.
(b)
The Board shall annually prepare a budget and shall submit it to
Council on the same date that the proposed budget for the City is
required. The Board shall not finally adopt a budget for any fiscal
year until the budget has been approved by Council. The Board may,
however, temporarily adopt a budget in connection with the operation
of any improvements which have been financed by revenue bonds where
required to do so by the ordinance authorizing the revenue bonds.
(c)
The Authority shall submit financial reports to Council at the same
time and on the same basis as departments of the City are required
to submit reports. The Authority shall be audited annually by the
same independent auditors auditing the City, and copies of the audit
report shall be filed with Council.
(d)
All expense items of the Authority shall be publicized monthly, and
the financial records shall always be open to the public.
[Ord. No. 386,
passed 8-23-1982]
The Board shall adopt rules governing its procedures and the
holding of regular meetings, subject to the approval of Council. All
meetings of the Board shall be open to the public and subject to the
provisions of the Open Meetings Act and other State laws relating
to governing boards.
[Ord. No. 386,
passed 8-23-1982]
Notwithstanding any other powers and authority provided by law,
the activities of the Authority shall be financed only from one or
more of the following enumerated sources:
