---
urn: urn:us-la:rs:39:1112
citation: "R.S. 39:1112"
status: active
breadcrumb: "Title 39 › Subtitle II › Chapter 5"
acts_citations:
---

# Maximum duration; interest

No bonds issued by any subdivision shall run for a longer period than ten years from the date thereof, or bear a greater rate of interest than six per cent per annum payable annually or semi-annually, or be sold for less than par.