Texas § CN.65 - MAXIMUM INTEREST RATE ON PUBLIC BONDS
Full text of Texas The Texas Constitution § CN.65 — MAXIMUM INTEREST RATE ON PUBLIC BONDS, with citation guidance and answers to common questions.
§ CN.65. MAXIMUM INTEREST RATE ON PUBLIC BONDS
MAXIMUM INTEREST RATE ON PUBLIC BONDS. (a) Wherever the Constitution authorizes an agency, instrumentality, or subdivision of the State to issue bonds and specifies the maximum rate of interest which may be paid on such bonds issued pursuant to such constitutional authority, such bonds may bear interest at rates not to exceed a weighted average annual interest rate of 12% unless otherwise provided by Subsection (b) of this section. All Constitutional provisions specifically setting rates in conflict with this provision are hereby repealed. (b) Bonds issued by the Veterans' Land Board after the effective date of this subsection bear interest at a rate or rates determined by the board, but the rate or rates may not exceed a net effective interest rate of 10% per year unless otherwise provided by law. A statute that is in effect on the effective date of this subsection and that sets as a maximum interest rate payable on bonds issued by the Veterans' Land Board a rate different from the maximum rate provided by this subsection is ineffective unless reenacted by the legislature after that date. (Added Nov. 7, 1972; Subsec. (a) amended and (b) added Nov. 3, 1981; Subsec. (a) amended Nov. 2, 1982.)
Frequently Asked Questions About Texas § CN.65
What does The Texas Constitution § CN.65 cover?
Section CN.65 ("MAXIMUM INTEREST RATE ON PUBLIC BONDS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § CN.65?
A common citation format is "The Texas Constitution § CN.65" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § CN.65 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.