Michigan Compiled Laws § 324.5415 Annual Establishment Of Interest Rates; Criteria.

324.5415 Annual establishment of interest rates; criteria.

Sec. 5415.

(1) The department shall annually establish the interest rates to be assessed for projects receiving assistance under this part. These rates of interest shall be in effect for loans made during the next state fiscal year.

(2) In establishing the interest rates under subsection (1), all of the following criteria shall be considered:

(a) Future demands.

(b) Present demands.

(c) Market conditions.

(d) Cost of compliance with program elements.

History: Add. 1997, Act 26, Imd. Eff. June 17, 1997
Popular Name: Act 451
Popular Name: NREPA

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Last modified: October 10, 2016