§ 53531
55 words·~1 min read·
/ca/government-code/53531A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any provision of law specifying the maximum interest rate on bonds to the contrary notwithstanding, bonds may bear interest at a coupon rate or rates as determined by the legislative body in its discretion but not to exceed 12 percent per year payable as permitted by law, unless some higher rate is permitted by law.