48-3628. Condemnation actions; interest
Interest on a judgment in a condemnation proceeding instituted by the district or by a power district or an agricultural improvement district pursuant to chapter 11 or 17 of this title, including interest that is payable pursuant to section 12-1123, subsection B, shall be calculated for each month or portion of a month that interest is owed and shall be either:
1. The prime rate charged by banks on short-term business loans as determined for publication in the bulletin of the board of governors of the federal reserve system, as of the first day of that month.
2. In the absence of a determination by the board of governors of the federal reserve system, calculated in the same manner based on comparable data as determined by the United States department of commerce, bureau of economic analysis, for publication in " survey of current business" .
3. If the prime rate cannot be determined from publication as provided in paragraph 2 of this section, determined by a federal agency that is annually designated by the respective district and that makes and publishes data sufficient to determine the prime rate of interest.
Section: Previous 48-3621 48-3622 48-3623 48-3624 48-3625 48-3626 48-3627 48-3628 48-3641 48-3642 48-3643 48-3644 48-3645 48-3646 48-3647 NextLast modified: October 13, 2016