Whenever the interest rate or rates determined by resolution of the funding board exceed those contained in the act or acts authorizing the issuance of such bonds, the rate or rates determined by the funding board shall prevail, it being the legislative intent to remove all statutory limitations regarding maximum interest rates and all such limitations are hereby expressly removed; provided, that the maximum rate determined by the funding board in no instance shall exceed the rate as provided by § 47-14-103.Acts 1957, ch. 186, § 2; T.C.A., § 9-922; Acts 1981, ch. 128, § 3; 2010, ch. 982, § 4.
Tennessee Legal Code