California Public Utilities Code 150210 – The authority may provide for the bonds to bear a variable interest …
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The authority may provide for the bonds to bear a variable interest rate, for the manner and intervals in which the rate shall vary, and for the dates on which the interest shall be payable.
(Added by Stats. 1986, Ch. 1521, Sec. 1.)
Terms Used In California Public Utilities Code 150210
- 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