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Section 22.� The provisions of this act shall be liberally construed in <br />order to effectively carry out the purposes of this act. <br />Section 23. If any provision of this act or the application thereof to <br />any person or circumstance is held invalid, the invalidity shall not affect <br />other provisions or applications of the act which can be given effect without. <br />the invalid provision or application, and to this end the provisions of this <br />act are declared severable. <br />Section 24. Limitation on rates. --The intent of this legislation is that <br />consumers receive maximum possible benefits; therefore, no lending institution <br />receiving proceeds of bond issues pursuant to this act may loan any of the <br />proceeds of such bond issue at the rate violative of federal arbitrage <br />regulations. <br />Section 25. This act shall take effect July 1, 1978. <br />MAY 91979 <br />BOOK 40 PAGE 254 <br />