Section 26338 Of Article 2. Revenue Bonds From California Government Code >> Division 2. >> Title 3. >> Part 2. >> Chapter 14. >> Article 2.

. Bonds shall bear interest at a rate of not to exceed 8 percent per annum, payable annually or semiannually or in part annually and in part semiannually. Prior to the issuance of bonds the board may fix limitations or restrictions on the payment of interest.