Montana § 7-13-2288 Interest Rate On Unpaid Assessments

Montana Statutes

§ 7-13-2288 — Interest Rate On Unpaid Assessments

Montana·Title 7 LOCAL GOVERNMENT·Ch. 13 UTILITY SERVICES·Part 22 County Water and/or Sewer Districts

7-13-2288 . Interest rate on unpaid assessments. The installments of assessments remaining unpaid bear simple interest at an annual rate equal to:

(1)the sum of:

(a)the average interest rate payable on the outstanding bonds issued to finance the improvement in respect of which the special assessments are levied; plus

(b)additional interest at a rate to be determined by the board of directors, not exceeding 2% a year; or

(2)if bonds are not issued to finance the improvements, at an interest rate to be determined by the board of directors, but not to exceed 10% a year.

Free access — add to your briefcase to read the full text and ask questions with AI

7-13-2288 . Interest rate on unpaid assessments. The installments of assessments remaining unpaid bear simple interest at an annual rate equal to:
(1) the sum of:
(a) the average interest rate payable on the outstanding bonds issued to finance the improvement in respect of which the special assessments are levied; plus
(b) additional interest at a rate to be determined by the board of directors, not exceeding 2% a year; or
(2) if bonds are not issued to finance the improvements, at an interest rate to be determined by the board of directors, but not to exceed 10% a year.

Montana § 7-13-2288 (Interest Rate On Unpaid Assessments) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.