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Interest Rate; Limitation; Payment - Mich. Comp. Laws Section 141.2409

Legal Research Home > Michigan Laws > Municipal Financing > Interest Rate; Limitation; Payment - Mich. Comp. Laws Section 141.2409

141.2409 Interest rate; limitation; payment.

Sec. 409.

A municipal security issued pursuant to this part shall bear no interest or interest at a rate not to exceed that provided in part III and shall be payable not later than the estimated time of collection of an amount sufficient for its payment out of the taxes or revenues pledged for the municipal security, as determined by the governing body of the municipality.

History: 2001, Act 34, Eff. Mar. 1, 2002

Section: Previous 141.2319 141.2321 141.2323 141.2401 141.2403 141.2405 141.2407 141.2409 141.2411 141.2413 141.2415 141.2501 141.2503 141.2505 141.2507 Next

Last modified: March 17, 2013