California § 6590.2. 6590.2. (Added by Stats. 1995, Ch. 229, Sec. 3.)

California Statutes

§ 6590.2. — 6590.2. (Added by Stats. 1995, Ch. 229, Sec. 3.)

California § 6590.2.

JurisdictionCalifornia

Code GOVGovernment Code - GOV

Div.7.

Title 1.DIVISION 7. MISCELLANEOUS

Ch. 5.CHAPTER 5. Joint Exercise of Powers

Art. 4.ARTICLE 4. Local Bond Pooling

This text of California § 6590.2. (6590.2. (Added by Stats. 1995, Ch. 229, Sec. 3.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Government Code - GOV Code § 6590.2. (2026).

Text

(a)An authority shall solicit at least three bids, and select the highest bid, for any guaranteed investment contract purchased with the proceeds of bonds issued by the authority.

(b)

(1)Any government securities broker or dealer that sells government securities to an authority shall certify that the purchase price of those securities is equal to the fair market value of those securities.

(2)For purposes of this subdivision, “fair market value” means the price a willing buyer would pay to a willing seller in an arms’ length transaction.

Free access — add to your briefcase to read the full text and ask questions with AI

(a)
An authority shall solicit at least three bids, and select the highest bid, for any guaranteed investment contract purchased with the proceeds of bonds issued by the authority.
(b)
(1)
Any government securities broker or dealer that sells government securities to an authority shall certify that the purchase price of those securities is equal to the fair market value of those securities.
(2)
For purposes of this subdivision, “fair market value” means the price a willing buyer would pay to a willing seller in an arms’ length transaction.