{"code":"GOV","codeName":"Government Code","section":"53532","citation":"Gov. Code, § 53532","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"TITLE 5. LOCAL AGENCIES [50001. - 57607.]","url":"https://blackletter.si/government-code/title-5"},{"name":"DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 55821.]","url":"https://blackletter.si/government-code/title-5/division-2"},{"name":"PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 54999.7.]","url":"https://blackletter.si/government-code/title-5/division-2/part-1"},{"name":"CHAPTER 3. Bonds [53400. - 53595.55.]","url":"https://blackletter.si/government-code/title-5/division-2/part-1/chapter-3"},{"name":"ARTICLE 7. Interest Rates on Bonds [53530. - 53534.]","url":"https://blackletter.si/government-code/title-5/division-2/part-1/chapter-3/article-7"}],"history":"Amended (as amended by Stats. 1985, Ch. 579, Sec. 4) by Stats. 1987, Ch. 943, Sec. 6.","effective":null,"html":"<p>The provisions of Section <a href=\"/gov/53531\">53531</a> shall apply only to coupon rates and shall not affect the power of a local agency to sell bonds at a discount below par if permitted by law. Any provision of law permitting bonds to be sold at a discount but specifying a maximum interest yield on bonds sold at a discount to the contrary notwithstanding, the bonds may be sold at a price yielding to the purchaser an effective interest rate of not to exceed 12 percent per year, payable as permitted by law, according to standard tables of bond values.</p>","text":"The provisions of Section 53531 shall apply only to coupon rates and shall not affect the power of a local agency to sell bonds at a discount below par if permitted by law. Any provision of law permitting bonds to be sold at a discount but specifying a maximum interest yield on bonds sold at a discount to the contrary notwithstanding, the bonds may be sold at a price yielding to the purchaser an effective interest rate of not to exceed 12 percent per year, payable as permitted by law, according to standard tables of bond values.","otherVersions":[],"url":"https://blackletter.si/government-code/interest-rates-on-bonds-53532","source":"California Legislative Information bulk export (pubinfo)"}