§ 8038 City Bond Issuance Rules

• •The city can sell bonds for money.
• •The city can't sell bonds for less than their face value.
• •The city council decides when to sell these bonds.

Imagine the city needs money to build a new park.

The city can sell bonds to get the money, but they can't sell a $100 bond for $90. They have to sell it for at least $100.