34.01.070 Maximum Interest Rate, Maturity, and Denominations

No bonds issued under the provisions of this Bond Code may bear interest at a rate or rates and be sold privately at a price resulting in an average net interest cost higher than twelve percent per annum. There is no interest rate ceiling on those issues sold at public sale. No bonds issued under this Bond Code may run for a longer period than thirty years from their date. The bonds may not bear a date earlier than the date of the authorization of their issuance election if required, nor earlier than the date of the adoption of the resolution of the governing body determining to issue bonds for which no election is required.