Louisiana Revised Statutes 39:1425 – Maximum interest rates for securities previously authorized at an election
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Terms Used In Louisiana Revised Statutes 39:1425
- 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
Any bonds heretofore authorized at an election at which the proposition approved by the electors specified a maximum interest rate higher than the maximum interest rate permitted by laws in effect at the time of said election may be issued at a maximum rate of interest not exceeding the rate set forth in said proposition subject to the approval of the State Bond Commission.
Acts 1975, 1st.Ex.Sess., No. 19, §5, eff. Jan. 28, 1975.