17-5-103. Rate of interest on special assessments determined by governing bodies -- limitations. All special assessments levied by a political subdivision must bear interest at a rate or rates determined by the political subdivision's governing body, except that the rate may not exceed the greater of 7% per annum or, in the event that the special assessments are appropriated for the payment of principal and interest on bonds issued by the political subdivision, the rate of interest on the bonds plus an additional rate of interest, if any, on assessments authorized by statute to pay the principal and interest on those bonds.
History: En. Sec. 3, Ch. 234, L. 1971; R.C.M. 1947, 79-2603; amd. Sec. 17, Ch. 451, L. 2005.
Structure Montana Code Annotated
Part 1. Rates of Interest -- Notice
17-5-102. Rate of interest on bonds to be determined by governing bodies
17-5-103. Rate of interest on special assessments determined by governing bodies -- limitations
17-5-104. Effect of revisions on bonds previously authorized
17-5-105. Redemption of bonds -- optional method
17-5-106. Notice of public bond sale
17-5-107. Public or private sale -- procedure for public sale
17-5-108. through 17-5-110 reserved
17-5-111. Electronic submission of bids
17-5-112. through 17-5-115 reserved
17-5-116. Allocation of bonding limits -- American Recovery and Reinvestment Act of 2009