City of Coldwater, MI
Branch County
By using eCode360 you agree to be legally bound by the Terms of Use. If you do not agree to the Terms of Use, please do not use eCode360.
Table of Contents
Table of Contents
[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:
(a) 
Donations to the Authority for the performance of its functions.
(b) 
Monies borrowed and to be repaid as authorized by Section 13 of Act 197.
(c) 
Monies obtained from other sources approved by the governing body of the City.