§ 53360. — 53360. (Amended by Stats. 2007, Ch. 670, Sec. 108.)

California § 53360.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 2.
• Title 5.: DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES
• Part 1.: PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES
• Ch. 2.5.: CHAPTER 2.5. The Mello-Roos Community Facilities Act of 1982
• Art. 5.: ARTICLE 5. Bonds

Text

The community facilities district may sell the bonds so issued at the times or in the manner the legislative body deems to be to the public interest. However, except as otherwise provided in Section 53360.4, all bonds shall be sold on sealed proposals or through generally accepted electronic means to the highest bidder, after advertising for bids by publication of notice of sale pursuant to Section 53692. If no bids are received or if the legislative body determines that the bids received are not satisfactory as to price or responsibility of the bidders, the legislative body may reject all bids received, if any, and either readvertise or sell the bonds at private sale.

Legislative History

Amended by Stats. 2007, Ch. 670, Sec. 108. Effective January 1, 2008.