Government Code section 6589

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.

Source: Section 6589, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=6589. (accessed May 26, 2025).

Last Updated

May 12, 2025

§ 6589’s source at ca.gov

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Location: https://california.public.law/codes/government_code_section_6589

Original Source: Section 6589, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=6589. (last accessed May 12, 2025).