Texas Water Code 17.874 – Periodic Determination of Interest
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Terms Used In Texas Water Code 17.874
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
A bond resolution or order may provide for payment of interest at any time or the periodic determination of interest rates or interest rate periods.