SECTIONS 35995-35998.1 - California Statutes

State Codes and Statutes

Statutes > California > Wat > 35995-35998.1

WATER CODE
SECTION 35995-35998.1




35995.  The board shall provide ways and means for the sale of
bonds.


35996.  (a) The bonds, or any part thereof, may be issued and sold
as the board determines.
   (b) Before selling the bonds, or any part thereof, the board may
give notice inviting sealed bids in such manner as the board 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.
   (c) In the alternative, the board may, if it determines that to do
so would produce a lower interest cost on the bonds, sell bonds at a
private sale without first advertising for bids.



35997.  Except as otherwise provided in Section 36170, a district
shall not sell or exchange any of its bonds for less than par value
plus the accrued interest thereon.



35998.  When any bonds are sold by the district, the treasurer shall
deliver the bonds purchased to the purchaser upon receiving the
purchase price of said bonds plus the accrued interest on said bonds
and the premium, if any, bid by the purchaser.



35998.1.  The accrued interest and premium, if any, shall be placed
in the general obligation bond fund. The purchase price of said bonds
shall be placed in the proper improvement fund and applied
exclusively to the purposes for which said bonds were voted. When
said purposes have been accomplished any moneys remaining in said
improvement fund shall be transferred to the general obligation bond
fund and when all principal of and interest on said bonds has been
paid, the balance of money then remaining in the general obligation
bond fund shall be transferred to the general fund.

State Codes and Statutes

Statutes > California > Wat > 35995-35998.1

WATER CODE
SECTION 35995-35998.1




35995.  The board shall provide ways and means for the sale of
bonds.


35996.  (a) The bonds, or any part thereof, may be issued and sold
as the board determines.
   (b) Before selling the bonds, or any part thereof, the board may
give notice inviting sealed bids in such manner as the board 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.
   (c) In the alternative, the board may, if it determines that to do
so would produce a lower interest cost on the bonds, sell bonds at a
private sale without first advertising for bids.



35997.  Except as otherwise provided in Section 36170, a district
shall not sell or exchange any of its bonds for less than par value
plus the accrued interest thereon.



35998.  When any bonds are sold by the district, the treasurer shall
deliver the bonds purchased to the purchaser upon receiving the
purchase price of said bonds plus the accrued interest on said bonds
and the premium, if any, bid by the purchaser.



35998.1.  The accrued interest and premium, if any, shall be placed
in the general obligation bond fund. The purchase price of said bonds
shall be placed in the proper improvement fund and applied
exclusively to the purposes for which said bonds were voted. When
said purposes have been accomplished any moneys remaining in said
improvement fund shall be transferred to the general obligation bond
fund and when all principal of and interest on said bonds has been
paid, the balance of money then remaining in the general obligation
bond fund shall be transferred to the general fund.

State Codes and Statutes

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State Codes and Statutes

Statutes > California > Wat > 35995-35998.1

WATER CODE
SECTION 35995-35998.1




35995.  The board shall provide ways and means for the sale of
bonds.


35996.  (a) The bonds, or any part thereof, may be issued and sold
as the board determines.
   (b) Before selling the bonds, or any part thereof, the board may
give notice inviting sealed bids in such manner as the board 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.
   (c) In the alternative, the board may, if it determines that to do
so would produce a lower interest cost on the bonds, sell bonds at a
private sale without first advertising for bids.



35997.  Except as otherwise provided in Section 36170, a district
shall not sell or exchange any of its bonds for less than par value
plus the accrued interest thereon.



35998.  When any bonds are sold by the district, the treasurer shall
deliver the bonds purchased to the purchaser upon receiving the
purchase price of said bonds plus the accrued interest on said bonds
and the premium, if any, bid by the purchaser.



35998.1.  The accrued interest and premium, if any, shall be placed
in the general obligation bond fund. The purchase price of said bonds
shall be placed in the proper improvement fund and applied
exclusively to the purposes for which said bonds were voted. When
said purposes have been accomplished any moneys remaining in said
improvement fund shall be transferred to the general obligation bond
fund and when all principal of and interest on said bonds has been
paid, the balance of money then remaining in the general obligation
bond fund shall be transferred to the general fund.