The rate of interest on all loans of the School Fund and the Agricultural College Fund in this state shall be established by the State Treasurer, payable semiannually.
(1949 Rev., S. 133; 1967, P.A. 6; P.A. 78-236, S. 2, 20.)
History: 1967 act included agricultural college fund under provisions of section and made interest rates subject to decision of state treasurer with a minimum rate of 4% rather than the previous 6%; P.A. 78-236 deleted language requiring minimum rate of 4%.
See Sec. 3-27a re investments in Short Term Investment Fund.