California Government Code

§ 53508.9

GOV § 53508.9 Effective Jan 1, 2010Div. 2 · Title 5 · Part 1 · Ch. 3 · Art. 4.5

Statute text

(a)Notwithstanding Section 53508.7, a local agency may sell bonds at a negotiated sale for a price at, above, or below par value, as authorized by the legislative body, without further approval, if the legislative body adopts a resolution before the negotiated sale, as an agenda item at a public meeting, that includes all of the following:

(1)Express approval of the negotiated method of sale.

(2)Statement of the reasons for selecting the negotiated method of sale.

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Legislative history

Added by Stats. 2009, Ch. 529, Sec. 2. (AB 1388) Effective January 1, 2010.