Government Code section 53532

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.

Source: Section 53532, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=GOV§ionNum=53532.­ (updated Jan. 1, 1985; accessed Jun. 30, 2025).

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Verified:
Jun. 30, 2025

§ 53532's source at ca​.gov