The bonds must bear interest at a rate which does not exceed by more than 5 percent the Index of Revenue Bonds which was most recently published before the bids are received or a negotiated offer is accepted, payable annually, semiannually or at such other times as designated by the board.
[Part 16:64:1919; A 1921, 118; 1929, 286; 1933, 271; 1955, 27] — (NRS A 1969, 489; 1971, 2128; 1975, 877; 1981, 1421; 1983, 588; 1985, 2066)