California Government Code 53508.7 – (a) The bonds shall be sold at a public or private sale and at a …
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(a) The bonds shall be sold at a public or private sale and at a price at, above, or below par, as the legislative body determines.
(b) Any bonds sold at a discount below the par value of the bonds shall be sold in compliance with the provisions of Section 53532.
Terms Used In California Government Code 53508.7
- Bonds: means bonds, notes, warrants, or other evidence of indebtedness payable, both principal and interest, from the proceeds of ad valorem taxes that may be levied without limitation as to rate or amount upon property subject to taxation by the legislative body. See California Government Code 53507
- Legislative body: means the governing body of the issuer. See California Government Code 53507
(c) The private sale of bonds is limited to the sale of school districts’ and community college districts’ bonds pursuant to Sections 15140 or 15146 of the Education Code.
(Amended by Stats. 1999, Ch. 667, Sec. 10. Effective January 1, 2000.)