§ 15142 Community College Bond Issuance

• •The board of supervisors or college board gets to pick the bond amounts.
• •There is no set rule about what the amounts must be; they can choose any denominations they want.
• •This power helps the college match bond sales to what investors want.

A community college wants to raise money by selling bonds and chooses to offer them in $10,000 pieces instead of $1,000 pieces.

Because the law says the board can set the denominations, the college can pick $10,000 as the amount each bond is worth.