57-208. BONDS — INTEREST RATE. All such bonds shall bear interest at a rate or rates as may be fixed by any such governing board prior to the issuance of such bonds, which interest shall be payable semiannually (or as specially provided for hereinbefore) on such dates as may be fixed by any such governing board prior to the issue of any such bonds: provided, that when any proposition of the issuance of any such bond submitted to the vote of the electors shall have specified a maximum rate of interest to be borne by such bonds, the rate of interest thereon shall not exceed such specified maximum rate.
History:
[(57-208) 1927, ch. 262, sec. 4, subd. (e), p. 546; I.C.A., sec. 55-208; am. 1970, ch. 133, sec. 18, p. 309.]