ARTICLE 4. Sale of Bonds

Article 4 added by Stats. 1943, Ch. 369.

§§ 9440–9450 · 11 sections

• § 9440 The State Treasurer shall receive and place the bonds to the credit of the drainage district, and shall when and as directed by the board sell any of the bonds…
• § 9441 The bonds shall not be sold for less than 95 per cent of their face value and the accrued interest thereon.
• § 9442 Before making a sale of any of the bonds, notice shall be given by the State Treasurer that he will sell a specified amount of the bonds, stating the day, hour…
• § 9443 The notice shall state that sealed proposals will be received by him for the purchase of the bonds or any part thereof at the day and hour named in the notice.
• § 9444 The notice shall be given by publication once a week for three successive weeks in a newspaper of general circulation published in the City of Sacramento.
• § 9445 At the time and place appointed in the notice the State Treasurer shall open the bids and shall award the purchase of the bonds or any part thereof to the…
• § 9446 If the highest bid is not equal to par and accrued interest the State Treasurer shall notify the board of the amounts of the highest bids received, and reject…
• § 9447 At any time before all the bonds held by the State Treasurer have been sold by him, the board may: (a) Draw upon the State Treasurer for, and issue and deliver…
• § 9448 In making payments in bonds, the board shall draw orders upon the State Treasurer payable in bonds to the amount therein named.
• § 9449 The orders shall be countersigned by the Controller and shall be paid with bonds by the State Treasurer upon presentation to the amount therein provided for.
• § 9450 In drawing any order upon the State Treasurer payable in bonds, the board may specify the maturity of the bonds which are to be delivered in compliance with…