Water Code section 44955

Revenue warrants may be sold at either public or private sale upon such terms and conditions as the board may determine. Such warrants may be sold at less than their par or face value, but no revenue warrant may be sold at a price which would yield to the purchaser an average of more than 8 percent per annum, payable semiannually, according to standard tables of bond values.

Source: Section 44955, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=WAT§ionNum=44955.­ (updated Jan. 1, 1977; accessed Jun. 30, 2025).

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Verified:
Jun. 30, 2025

§ 44955's source at ca​.gov