Streets and Highways Code section 33138

The authority may sell bonds at a price below the par or face value, provided that the discount on any bonds so sold shall not exceed 8 percent of the par value thereof.

The interest rate on the bonds shall not exceed 8 percent, payable semiannually. The sale shall be conducted in compliance with Chapter 10 (commencing with Section 5800) of Division 6 of Title 1 of the Government Code.

Source: Section 33138, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=SHC§ionNum=33138. (updated Jan. 1, 1975; accessed Jun. 9, 2025).

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Verified:
Jun. 9, 2025

§ 33138’s source at ca.gov

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Location: https://california.public.law/codes/streets_and_highways_code_section_33138

Original Source: Section 33138, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=SHC§ionNum=33138. (last accessed May 12, 2025).