1204.007 – MAXIMUM INTEREST RATE FOR CERTAIN PUBLIC
Texas Government Code § 1204.007
Summary
This law sets the maximum interest rate for public securities authorized by elections held before April 15, 1981. It ensures that these securities cannot exceed the interest rate approved in the original election unless a new election is conducted to authorize a higher rate.
Applies to public securities from elections before April 15, 1981.
Interest rates cannot exceed those approved in the original election.
Requires a new election for any increase in the interest rate.
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In simple terms: Learn about Texas's MAXIMUM INTEREST RATE FOR CERTAIN PUBLIC law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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