California Public Utilities Code 90663 – Refunding bonds shall bear interest at a rate not exceeding the …
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Refunding bonds shall bear interest at a rate not exceeding the interest rate on the refunded bonds, but payment of the refunding bonds shall begin not later than one year from the date thereof and be complete in not more than 40 years from that date.
(Added by Stats. 1965, Ch. 2039.)
Terms Used In California Public Utilities Code 90663
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC