Tex. Gov't Code § 1371.054 · Subchapter B. ISSUANCE AND APPROVAL OF OBLIGATION
RATE OF INTEREST.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An obligation may bear no interest or bear interest at any rate or rates not to exceed the maximum net effective interest rate allowed by law, whether fixed, variable, floating, adjustable, or otherwise, as determined in accordance with the obligation authorization.
(b) The obligation authorization may provide a formula, index, contract, or other arrangement for the periodic determination of interest rates.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1371.htm
- Text hash
- sha256 7fc127bc78e5cd1a58295a908ece421272a03914af7add466b5b3c0b15e493a9
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.