Removal of Statutory Limitations on Interest Rates

Checkout our iOS App for a better way to browser and research.

Whenever the interest rate or rates determined by resolution of the funding board exceed those contained in the act or acts authorizing the issuance of such bonds, the rate or rates determined by the funding board shall prevail, it being the legislative intent to remove all statutory limitations regarding maximum interest rates and all such limitations are hereby expressly removed; provided, that the maximum rate determined by the funding board in no instance shall exceed the rate as provided by §47-14-103.


Download our app to see the most-to-date content.