The legislative body may sell the 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.
Cal. Sts. & High. Code § 35419
Bonds, Acquisitions and Improvements
Known as the Parking District Law
The act spans §§ 35100–35708 (190 sections).
Amended by Stats. 1975, Ch. 130.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.