§ 33138
70 words·~1 min read·
/ca/streets-and-highways-code/33138A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The authority may sell bonds at a price below the par or face value, provided that the discount on any bonds so sold shall not exceed 8 percent of the par value thereof.
The interest rate on the bonds shall not exceed 8 percent, payable semiannually. The sale shall be conducted in compliance with Chapter 10 (commencing with Section 5800) of Division 6 of Title 1 of the Government Code.