§ 14-164-311 - Bonds generally -- Interest rates. - Arkansas Statutes

14-164-311. Bonds generally -- Interest rates.

(a) Bonds for capital improvements shall not bear a rate of interest in excess of two percent (2%) per annum above the Federal Reserve rate in effect at the time of the election authorizing the bonds.

(b) Industrial development bonds may bear such rate or rates of interest as the ordinance shall provide.