Section 130. Composite index

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Part VI. Interest Rates

Except as modified by 8VAC20-100-150, the interest rate for a Literary Loan shall be based on the school division's Composite Index, used for distribution of State Basic Aid, in effect when the board places the project on the waiting list.

Historical Notes

Derived from VR270-01-0009 § 6.1, eff. March 30, 1988; amended, Volume 11, Issue 10, eff. March 8, 1995.

Statutory Authority

Article VIII, § 8 of the Constitution of Virginia; §§ 22.1-140 and 22.1-142 et seq. of the Code of Virginia.

                    
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