42-81 Definitions.

The terms used in this article shall have the same meaning as given to them in Act No. 197 of the Public Acts of Michigan of 1975 (MCL 125.1651 et seq., MSA 5.3010(1) et seq.), as amended, or as provided in this section, unless the context clearly indicates to the contrary. As used in this article:

Act 197 means Act No. 197 of the Public Acts of Michigan of 1975 (MCL 125.1651 et seq., MSA 5.3010(1) et seq.), as amended.

Authority means the downtown development authority created by this article.

Board of trustees or board means the board of trustees of the authority, the governing body of the authority.

Chief executive officer means the mayor of the city.

Downtown district means the downtown district designated by this article, as amended.

(Code 1985, § 2-25.7)

Cross reference—Definitions generally, § 1-2.

42-82 Determination of necessity.

The city 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.

(Code 1985, § 2-25.8)

42-83 Creation of authority.

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 and exercise its powers under title of “Pontiac 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 article and Act 197. The enumeration of a power in this article or in Act 197 shall not be construed as a limitation upon the general powers of the authority.

(Code 1985, § 2-25.9)

42-84 Powers generally.

Except as specifically otherwise provided in this article, the authority shall have all powers provided by law subject to the limitations imposed by law and in this article.

(Code 1985, § 2-25.12)

42-85 Board of trustees.

The authority shall be under the supervision and control of a board of trustees consisting of the chief executive officer of the city and not less than eight or more than 12 members as provided by Act 197. The members shall be appointed by the chief executive officer subject to approval by the council and shall hold office for the terms provided in Act 197. All members shall hold office until the members’ successor is appointed.

(Ord. No. 1998, § 1, 11-10-92)

42-86 Director; bond.

If a director is employed as authorized by section 5 of Act 197, he shall post bond in the penal sum of $1,000,000.00 as required by such section.

(Code 1985, § 2-25.13)

42-87 Fiscal year; adoption of budget; financial reports; audit.

(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 be adopted by the city.

(b)    The board shall annually prepare a budget and shall submit it to the council on the same date that the proposed budget for the city is required by the Charter to be submitted to the council. The board shall not finally adopt a budget for any fiscal year until the budget has been approved by the city 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 the council at the same time and on the same basis as departments of the city are required to submit reports.

(d)    The authority shall be audited annually by the same independent auditors auditing the city and copies of the audit report shall be filed with the council.

(Code 1985, § 2-25.14)

42-88 Description of downtown district.

The downtown district in which the authority shall exercise its powers as provided by Act 197 shall consist of the following described territory in the city, subject to such changes as may be made pursuant to this article and Act 197:

An area in the city within the boundaries described as follows:

Beginning at a point where the southeasterly line of Sanderson Street intersects the northeasterly line of Oakland Avenue; thence southwesterly along the southeasterly line of Sanderson Street to a point on the westerly right-of-way line of G.T.W. Railroad; thence southeasterly along the westerly right-of-way line to northeast corner of Assessors Plat No. 40; thence westerly to northeast corner of Hitchcock Addition, Sub.; thence southerly to southwest corner of Williams and West Huron Streets; thence continuing south along the westerly line of Williams Street to the southwesterly corner of Williams and West Lawrence Streets; thence easterly along the southerly line of West Lawrence Street to westerly line of G.T.W. Railroad right-of-way; thence southerly along said right-of-way to northerly line of Orchard Lake Road; thence westerly along said northerly line to westerly line of Front Street; thence southerly to a point on southerly line of Orchard Lake Road; thence westerly to southwest corner of Orchard Lake Road and Bagley Street; thence southerly along westerly line of Bagley Street to southwest corner of Bagley Street and G.T.W. Railroad right-of-way; thence easterly along southerly line of said right-of-way to southeast corner of said right-of-way and Franklin Road; thence northeasterly along southeasterly line of Franklin Road extended to a point on the east line of Saginaw Street; thence northwesterly to northeast corner of Saginaw Street and Wide Track Drive East; thence northerly along easterly line of Wide Track Drive to northeast corner of Judson Street; thence easterly along the northerly line of Judson Street 100 feet; thence northerly to a point on south line of the alley; thence easterly to west line of Center Street; thence northerly to north line of Auburn Avenue; thence westerly to northeast corner of Wide Track Drive and Auburn Avenue; thence northerly along east line of Wide Track Drive to the southwest corner of lot 2, Assessors Plat No. 142; thence northeasterly along southerly lot line of lot 2 extended to east line of Union Street; thence northerly along said line to southeast corner of Union Street and University Avenue; thence northeasterly to northeast corner of University and Seneca Street; thence northwesterly along easterly line of Seneca Street to a point of intersect of the northerly line of lots 1 and 2 of Pithers Addition Sub.; thence southwesterly along the northerly line of lots 1 and 2 to east line of Wide Track Drive East; thence northerly and westerly along east line of Wide Track Drive East to a point of intersection with the northeasterly line of Oakland Avenue; thence northwesterly along the northeasterly line of Oakland Avenue to the point of beginning.

(Code 1985, § 2-25.10)

42-89 Dissolution date.

The City of Pontiac Downtown Development Authority shall be dissolved, effective June 30, 2012.

(Ord. No. 2248, § 1, 3-6-12)

42-9042-125 Reserved.