California Streets and Highways Code 35505 – The bonds may be sold at any rate of interest not exceeding that …
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The bonds may be sold at any rate of interest not exceeding that stated in the resolution of intention. The maximum interest rate shall not exceed 7 percent a year.
(Repealed and added by Stats. 1969, Ch. 234.)
Terms Used In California Streets and Highways Code 35505
- 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