As used in Section 15725 of the Education Code, the phrase âadjusted to the next highest one-eighth of 1 percentâ means âincreased by a full one-eighth of 1 percent.â It is hereby declared that this construction is not intended as a change in the present law, but as a declaration of the existing law, and shall apply to any interest rate heretofore or hereafter fixed by the board under said section.
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