A. Each loan guarantee shall be limited to the maximum established in Subsection B for each parish or district. The total amount of all outstanding loans shall not at any time exceed six million dollars. The interest rate shall not exceed seven percent per annum. The term of each loan shall not exceed a maximum of four years. B. Each assessor in the state is authorized to borrow an amount to defray the costs of reappraisal and reassessment as required by Article VII, Part II of the constitution, not to exceed the following: Added by Acts 1977, No. 571, §1, eff. July 15, 1977; H.C.R. No. 88, 1993 R.S., eff. May 30, 1993; H.C.R. No. 1, 1994 R.S., eff. May 11, 1994. PARISH/DISTRICT AMOUNT
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