California Government Code

§ 15832

GOV § 15832 Effective Jan 1, 2019Div. 3 · Title 2 · Part 10b · Ch. 5

Statute text

(a)Upon receipt of a resolution of the board authorizing the issuance of bonds, the Treasurer shall provide for their preparation in accordance with the resolution. The bonds authorized to be issued shall be sold by the Treasurer, at public sale or at private sale, as directed by the board. In the case of public sale, both of the following apply:

(1)The bonds shall be sold by the Treasurer, at such time as may be fixed by him or her, and upon such notice as he or she may deem advisable, upon bids submitted to the Treasurer in the form and by the means specified by the Treasurer, to the bidder whose bid will result in the lowest interest cost on account of such bonds.

(2)If no bids are received, or if the Treasurer determines that the bids are not satisfactory, the Treasurer may reject all bids received, if any, and either readvertise or sell the bonds at private sale.

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Legislative history

Amended by Stats. 2018, Ch. 92, Sec. 103. (SB 1289) Effective January 1, 2019.