Louisiana Revised Statutes 39:1450 – Interest rates of refunding bonds
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Terms Used In Louisiana Revised Statutes 39:1450
- 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
Refunding bonds shall bear interest at such rate or rates as are set forth in the resolution or ordinance authorizing the issuance of the bonds but such interest rate or rates shall be governed by the provisions of La. Rev. Stat. 39:1424 and 1424.1.
Acts 1984, No. 352, §1, eff. July 2, 1984.