New Mexico Statutes > Chapter 22 > Article 19B – School District Bond Anticipation Notes
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Terms Used In New Mexico Statutes > Chapter 22 > Article 19B - School District Bond Anticipation Notes
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.