§ 26343 Bond Sale Interest Limits

Government Code·California

AI SummaryVerified

Key Takeaways

•The board can set rules for selling bonds.
•Bonds can be sold for less than their face value, but not too cheap.
•The sale price can't give the buyer more than 8% interest per year.

Example

A city wants to sell bonds to raise money for a new park.

The city can sell the bonds for a little less than their face value, but they can't sell them so cheap that the buyer makes more than 8% interest per year.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 26343 Bond Sale Interest Limits

The board may fix terms and conditions for the sale or other disposition of any authorized issue of bonds. The board may sell bonds at less than their par or face value but no bond may be sold at a price below the par or face value thereof which would result in a sale price yielding to the purchaser an average of more than 8 percent per annum, payable semiannually, according to standard tables of bond values. (Amended by Stats. 1975, Ch. 130.)

Last verified: January 22, 2026

Key Terms

the board disposition

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 26343.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References