§ 4618
52 words·~1 min read·
/ca/health-and-safety-code/4618A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The maximum rate of interest to be paid on the bonded indebtedness shall be 8 percent per annum, and shall be payable semiannually. The first interest payable on the bonds or any series of the bonds may, however, be for any period not exceeding one year, as determined by the governing body.