§ 2-224. Interest rate for registered warrants.

Latest version.

When a bank has a money market repurchase agreement with city funds, the warrants shall be registered at a rate of two percent below the money market rate which was established in any given month upon the first business day thereof. All other registered warrants shall be limited to an interest rate of 8½ percent per annum.

(Code 1981, § 3.02.040; Ord. No. 899, § 1, 1-12-82; Ord. No. 908, § 1, 10-12-82)

State law reference

Interest on unpaid assessments, MCA 7-6-4501.

                    
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