NOTE: §693 eff. until July 1, 2021. See Acts 2018, No. 569.
§693. Maturities and interest rate
Refunding bonds issued hereunder shall have maturities not exceeding forty years; however, the maturities shall be so fixed as to effect a consequent reduction in the annual rate of taxes or annual forced contributions required or annual revenues pledged and the interest rate shall be the same or lower than the interest rate of the bonds refunded.
NOTE: §693 as repealed by Acts 2018, No. 569, eff. July 1, 2021.
§693. Repealed by Acts 2018, No. 569, §2, eff. July 1, 2021.
Added by Acts 1975, No. 153, §1; Acts 2018, No. 569, §2, eff. July 1, 2021.
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