Michigan Compiled Laws Act 342 Of 1969 Interest Rates For Public Corporations (141.151 - 141.153)

AN ACT to establish a maximum rate of interest at which public corporations may issue bonds and other evidences of indebtedness; and to authorize public corporations to establish, fix and adjust maximum rates of interest on certain assessments or contract obligations.

History: 1969, Act 342, Imd. Eff. Dec. 26, 1969 ;-- Am. 1971, Act 40, Imd. Eff. June 17, 1971

Section 141.151 Definitions.
As used in this act: (a) “Public corporation” means any body corporate organized by or pursuant to the laws of this state to carry...
Section 141.152 Maximum Interest Rate On Certain Bonds And Evidences Of Indebtedness.
Notwithstanding the provisions of any other law, charter provision, ordinance, ballot or other proceedings to the contrary, any public corporation may agree or contract...
Section 141.153 Maximum Interest Rate On Assessments Or Certain Contract Obligations; Adjustment.
Notwithstanding the provisions of any other law, charter provision or ordinance to the contrary, any assessment made by a public corporation against any corporation,...

Last modified: October 10, 2016