California Government Code 43776 – When bonds are acquired at less than their par value, the legislative …
Current as of: 2024 | Check for updates
|
Other versions
When bonds are acquired at less than their par value, the legislative body may reduce the total principal amount of any issue acquired and held by it to a total principal amount to be fixed by ordinance. The reduced total principal amount of the issue shall not be less at par than the total purchase price of the total principal amount of the issue acquired by the legislative body.
(Added by Stats. 1949, Ch. 79.)
Terms Used In California Government Code 43776
- legislative body: means board of trustees, city council, or other governing body of a city. See California Government Code 34000