South Dakota Codified Laws 6-8B-12. Interest rate
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The maximum allowable interest rate for bonds issued by a public body may be whatever rate the governing body prescribes.
Terms Used In South Dakota Codified Laws 6-8B-12
- 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
Source: SL 1984, ch 43, § 12.