Public Utilities Code - PUC
DIVISION 10. TRANSIT DISTRICTS [24501 - 107025]
( Division 10 repealed and added by Stats. 1955, Ch. 1036. ) PART 13. GOLDEN EMPIRE TRANSIT DISTRICT [101000 - 101372]
( Heading of Part 13 amended by Stats. 1973, Ch. 590. ) CHAPTER 8. Bonds [101280 - 101336]
( Chapter 8 added by Stats. 1971, Ch. 1161. ) ARTICLE 3. Issue and Sale [101310 - 101312]
( Article 3 added by Stats. 1971, Ch. 1161. ) 101310.
The bonds may be issued and sold for not less than their par value, but otherwise as the board determines. Before selling any bonds, or any part thereof, the board shall give notice inviting sealed bids in such manner as the board may prescribe. Such notice shall be published at least twice pursuant to a provision of Article 4 (commencing with Section 6060), Chapter 1, Division 7, Title 1 of the Government Code. 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 again give notice inviting bids or sell the bonds at private sale.
(Added by Stats. 1971, Ch. 1161.)