2005 Connecticut Code - Sec. 3-42. Rate of interest on loans from the School Fund and Agricultural College Fund.

      Sec. 3-42. Rate of interest on loans from the School Fund and Agricultural College Fund. The rate of interest on all loans of the School Fund and the Agricultural College Fund in this state shall be established by the State Treasurer, payable semiannually.

      (1949 Rev., S. 133; 1967, P.A. 6; P.A. 78-236, S. 2, 20.)

      History: 1967 act included agricultural college fund under provisions of section and made interest rates subject to decision of state treasurer with a minimum rate of four per cent rather than the previous six per cent; P.A. 78-236 deleted language requiring minimum rate of four per cent.

      See Sec. 3-27a re investments in Short Term Investment Fund.