TN SB3693

Legislative Description

As enacted, specifies that when applying the maximum interest rate for bonds issued by the Tennessee state school bond authority with respect to which the local government has elected to have the federal Build America Bonds program apply to such bond, the maximum interest rate will be determined by reducing the interest payable by the authority with respect to such bond by the amount of payments from the U.S. treasury that the authority expected, at the time of the issuance of such bond as a result of the foregoing elections; provisions to expire on June 30, 2012.

Education

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Committee Referrals