An authority may enter into a bond purchase agreement with a local agency or agencies. The bond purchase agreement shall specify the maximum rate of interest, the cost of issuance, the amount of required reserve, and the procedure to be used in case of default. Notwithstanding any other provision of law, local agencies may sell their bonds to the authority on a negotiated basis without compliance with any public sale requirement included in the statutes under which the bonds are issued.
Cal. Gov. Code § 6589
Local Bond Pooling
Known as the Marks-Roos Local Bond Pooling Act
The act spans §§ 6584–6599 (35 sections).
Amended by Stats. 1987, Ch. 481, Sec. 4
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.