§ 12-71. Contractual effect of division.

Latest version.

Notwithstanding the provisions of section 15A(5) of the act (MCL 125.1415a(5)), to the contrary, a contract between the city and the sponsor with the authority, as third party beneficiary under the contract to provide tax exemption and accept payments in lieu of taxes, as previously described, is effectuated by enactment of the ordinance from which this division is derived.

(Ord. No. 2006-12, § 1(1.80), 8-7-2006)

                    
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