Net effective interest rate means the net interest cost of securities issued by a public body divided by the sum of the products derived by multiplying the principal amount of the securities maturing on each maturity date by the number of years from their date to their respective maturities. In all cases, net effective interest rate shall be computed without regard to any option of redemption prior to the designated maturity dates of the securities.
Net effective interest rate of a proposed issue of bonds means the net interest cost of said issue divided by the sum of the products derived by multiplying the principal amount of such issue maturing on each maturity date by the number of years from the date of said proposed bonds to their respective maturities.
Net effective interest rate means, with reference to a contract, the interest amount considered by the governing body of a governmental agency to accrue on a contract.
Examples of Net effective interest rate in a sentence
As used in this part 2, unless the context otherwise requires: (1) "Net effective interest rate" of a proposed issue of refunding bonds means the net interest cost of said refunding issue divided by the sum of the products derived by multiplying the principal amount of such refunding issue maturing on each maturity date by the number of years from the date of said proposed refunding bonds to their respective maturities.
More Definitions of Net effective interest rate
Net effective interest rate means the interest rate of public securities, compounded semiannually, necessary to discount the scheduled debt service payments of principal and interest to the date of the public securities and to the price paid to the public body for the public securities, excluding any interest accrued to the date of delivery and based upon a year with the same number of days as the number of days for which interest is computed on the public securities;
Net effective interest rate means that interest rate, compounded semi-annually necessary to discount the scheduled debt service payments of principal and interest on the Bonds to the date of the Bonds and to the price paid to the College for the Bonds, excluding any interest accrued to the date of delivery of the Bonds and based on a year with the same number of days as the number of days for which interest is computed on the Bonds.
Net effective interest rate means the interest rate of public securities, compounded semi-annually in arrears necessary to discount the scheduled debt service payments of principal and interest to the date of the public securities and to the price paid to the public body for the public securities excluding any interest accrued to the date of delivery and based upon a year with the same number of days as the number of days for which interest is computed on the public securities.
Net effective interest rate means the net interest cost of such obligations to be refunded divided by the product of the principal amounts expressed in one-thousand-dollar units of such obligations to be refunded maturing on each maturity date and ten times the number of years from the date of the proposed refunding bonds to the respective maturities of the obligations to be refunded. The net effective interest rate shall be computed without regard to any option of redemption prior to the designated maturity dates of the obligations;
Net effective interest rate shall be defined and calculated in accordance with the terms of Chapter 1204, Texas Government Code.
Net effective interest rate means the
Net effective interest rate means the net interest cost of securities issued by