§ 105205. — 105205. (Added by Stats. 2002, Ch. 341, Sec. 4.)

California § 105205.

• Jurisdiction: California
• Code PUC: Public Utilities Code - PUC
• Div. 10.: DIVISION 10. TRANSIT DISTRICTS
• Part 16.: PART 16. SONOMA-MARIN AREA RAIL TRANSIT DISTRICT
• Ch. 6.: CHAPTER 6. Bonds and Other Evidence of Indebtedness
• Art. 1.: ARTICLE 1. Authorization and Issuance of General Obligation Bonds

Text

The bonds may be sold as the board determines by resolution but for not less than par. Before selling the bonds or any part thereof, the board shall give notice inviting sealed bids in a manner as it may prescribe. If satisfactory bids are received, the bonds offered for sale shall be awarded to the highest responsible bidder. If no bids are received or if the board determines that the bids received are not satisfactory as to price or responsibility of the bidders, the board may reject all bids received, if any, and either readvertise or sell the bonds at
private sale.

Legislative History

Added by Stats. 2002, Ch. 341, Sec. 4. Effective January 1, 2003.