§ 11751 Bond Sale Minimum Price

Water Code·California

AI SummaryVerified

This law says that bonds can be sold for less than their face value, but not for less than 94% of that value. It also says the sale price must include any interest that has built up until the bonds are delivered.

Key Takeaways

•Bonds can be sold for less than their face value.
•The lowest price you can sell a bond for is 94% of its face value.
•The sale price must include any interest that has built up until the bonds are delivered.

Example

Imagine you have a bond worth $100.

You can sell it for as low as $94, but not lower. If interest has built up, say $2, then the lowest you can sell it for is $96.

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

Official Source

View on CA.gov

§ 11751 Bond Sale Minimum Price

Bonds may be sold below the par or face value thereof, but the sale price shall not be less than 94 percent of the par or face value of the bonds, and the sale price shall include the interest which has accrued thereon up to the date of delivery of the bonds. (Amended by Stats. 1975, Ch. 828.)

Last verified: January 11, 2026

Key Terms

Bonds par or face value sale price accrued interest

References

Official text at leginfo.legislature.ca.gov
California Legislature. Water Code. Section 11751.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References