---
urn: urn:us-la:rs:39:1425
citation: "R.S. 39:1425"
status: active
breadcrumb: "Title 39 › Subtitle III › Chapter 13"
acts_citations:
  - { year: 1975, number: 19, section: 5, effective_date: 1975-01-28, role: enactment }
---

# Maximum interest rates for securities previously authorized at an election

Any bonds heretofore authorized at an election at which the proposition approved by the electors specified a maximum interest rate higher than the maximum interest rate permitted by laws in effect at the time of said election may be issued at a maximum rate of interest not exceeding the rate set forth in said proposition subject to the approval of the State Bond Commission.