Public Utilities Code - PUC
DIVISION 10. TRANSIT DISTRICTS [24501 - 107025]
( Division 10 repealed and added by Stats. 1955, Ch. 1036. ) PART 12. SANTA CLARA VALLEY TRANSPORTATION AUTHORITY [100000 - 100619]
( Heading of Part 12 amended by Stats. 1999, Ch. 724, Sec. 5. ) CHAPTER 7. Bonds and Other Evidences of Indebtedness [100400 - 100492]
( Chapter 7 added by Stats. 1974, Ch. 1204. ) ARTICLE 1. Authorization and Issuance of General Obligation Bonds [100400 - 100413]
( Article 1 added by Stats. 1974, Ch. 1204. ) 100405.
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 such 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.
(Added by Stats. 1974, Ch. 1204.)