California Government Code

§ 6589

GOV § 6589 Effective Sep 9, 1987Div. 7 · Title 1 · Ch. 5 · Art. 4

Statute text

An authority may enter into a bond purchase agreement with a local agency or agencies. The bond purchase agreement shall specify the maximum rate of interest, the cost of issuance, the amount of required reserve, and the procedure to be used in case of default. Notwithstanding any other provision of law, local agencies may sell their bonds to the authority on a negotiated basis without compliance with any public sale requirement included in the statutes under which the bonds are issued.

Legislative history

Amended by Stats. 1987, Ch. 481, Sec. 4. Effective September 9, 1987.