Mich. Comp. Laws § 486.504
It shall be lawful for the township board of any township for and on behalf of that township to contract with any such corporation for the purchase of water for public, municipal or other purposes and to provide in said contract for the time and manner of payment and any and all other matters incident thereto. Such contract may further provide for the acquisition of all or some of the physical properties of any such corporation at such time or times, upon such terms and in such manner as to the township board shall seem just and proper. The township board of any township, before entering into any such contract as hereinbefore provided, shall pass a resolution declaring its intent to proceed under the provisions of this act and to enter into 1 or more contracts as in this act contemplated. Such resolution shall set forth substantially the terms and provisions of such contract and shall provide for a public hearing upon all matters pertaining thereto. Such contract shall be effective for a period of not to exceed 50 years. Such public hearing shall be held within 20 days after the passage of such resolution. Notice of the time and place of such public hearing shall be given at least 10 days prior thereto by publication of such notice in a newspaper of general circulation in such township and by posting such notice in 3 public places within such township. After such public hearing the township board by the affirmative vote of a 2/3 majority of its members-elect may pass an ordinance adopting the provisions of this act and may by such ordinance authorize 2 or more of its members on behalf of the township to enter into such contract with such corporation. Any ordinance adopted hereunder, together with a notice or certificate of its adoption, shall be published in a newspaper having general circulation within such township within 15 days following its passage and such ordinance shall become effective within 30 days next following the date of its publication: Provided, however, That if within 30 days from the publication of such ordinance, a petition signed by not less than 10% of the registered electors residing within the limits of such township shall have been filed with the township clerk requesting a referendum upon the effectiveness of such ordinance, then such ordinance shall not become effective until approved by vote of a majority of the electors of such township qualified to vote and voting thereon, at a general or special election. Signatures on any such petition shall be verified by some person or persons under oaths as the actual signatures of persons whose names are signed thereto, and the township clerk shall have the same power to reject signatures and petitions as city clerks possess by law. The number of registered electors in such township shall be determined by the township registration books.
MCL 486.504