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Interest rate charge on special assessments.

MCL 141.2507
in effect
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141.2507. Interest rate charge on special assessments. Sec. 507. A municipality issuing a municipal security in anticipation of special assessments may, notwithstanding any charter or ordinance provisions to the contrary, charge a rate of interest on the unpaid balance of the special assessments in excess of the charter or ordinance limit on the municipal security, but not in excess of a rate of more than 1% above the average rate of interest borne by the municipal security. 2001, Act 34, Eff. Mar. 1, 2002
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-141-2507Fetched: 10/20/2026

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