(a) The committee may authorize the Treasurer to sell all or any part of the bonds authorized by this article at the time or times established by the Treasurer.

(b) Whenever the committee deems it necessary for an effective sale of the bonds, the committee may authorize the Treasurer to sell any issue of bonds at less than their par value, notwithstanding § 16754 of the Government Code. However, the discount on the bonds shall not exceed 3 percent of the par value thereof.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

(Added by renumbering Section 19241 by Stats. 2013, Ch. 602, Sec. 60. (SB 360) Effective January 1, 2014. Note: This section (as originally numbered) was added by Stats. 2001, Ch. 902, and approved in Prop. 41 on March 5, 2002.)