Government Code - GOV
TITLE 4. GOVERNMENT OF CITIES [34000 - 45345]
( Title 4 added by Stats. 1949, Ch. 79. ) DIVISION 4. FINANCIAL PROVISIONS [43000 - 43904]
( Division 4 added by Stats. 1949, Ch. 79. ) CHAPTER 4. Bonds [43600 - 43904]
( Chapter 4 added by Stats. 1949, Ch. 79. ) ARTICLE 4. Investment Bond Act of 1909 [43760 - 43797]
( Article 4 added by Stats. 1949, Ch. 79. ) 43793.
A proposal shall not be accepted unless the sale price is less than par and accrued interest. If no proposals are received, or if those received are rejected or are insufficient to exhaust the money available for the redemption of bonds, the legislative body shall call in numerical order such outstanding bonds as can be redeemed from the money available for that purpose.
(Added by Stats. 1949, Ch. 79.)