Mich. Comp. Laws § 41.735a
This is the official text of Mich. Comp. Laws § 41.735a, part of Michigan’s Comp. Laws — part of the compiled statutory law of Michigan, published by the state as "Comp. Laws." Browse the sections below, each linked to its official government source.
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Township improvement revolving fund; advances; interest.
Official statutory text
Sec. 15a.
As an alternate method of defraying the cost of an improvement made under this act, after the special assessment roll for the improvement is confirmed, the township board may pay the cost of the improvement from the township improvement revolving fund. The amount advanced shall not exceed the amount the board anticipates will be collected by the special assessments. The amount advanced by the township shall bear interest at a rate not exceeding 5% per annum.
History: Add. 1956, Act 109, Eff. Aug. 11, 1956; Am. 1986, Act 180, Imd. Eff. July 8, 1986
As an alternate method of defraying the cost of an improvement made under this act, after the special assessment roll for the improvement is confirmed, the township board may pay the cost of the improvement from the township improvement revolving fund. The amount advanced shall not exceed the amount the board anticipates will be collected by the special assessments. The amount advanced by the township shall bear interest at a rate not exceeding 5% per annum.
History: Add. 1956, Act 109, Eff. Aug. 11, 1956; Am. 1986, Act 180, Imd. Eff. July 8, 1986
Status: in_force · Read it on the official government site
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