SECTIONS 53400-53401 - California Statutes

GOVERNMENT CODE

SECTION 53400-53401

53400. A county, city, district, or political subdivision may sell
any of its bonds, authorized by the electors and unsold, at a price
which will net the purchaser not more than 8 percent a year, payable
semiannually, on the par value of the bonds.

53401. This article does not apply to bonds authorized under a law
permitting their sale at a price netting the purchaser more than 6
percent.