Michigan § 141.2507 - Interest rate charge on special assessments.
Full text of Michigan Michigan Compiled Laws § 141.2507 — Interest rate charge on special assessments., with citation guidance and answers to common questions.
§ 141.2507. Interest rate charge on special assessments.
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.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 141.2507
What does Michigan Compiled Laws § 141.2507 cover?
Section 141.2507 ("Interest rate charge on special assessments.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 141.2507?
A common citation format is "Michigan Compiled Laws § 141.2507" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 141.2507 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.