§ 101310 Bond Sale Procedures

Public Utilities Code·California

AI SummaryVerified

This law says that when selling bonds, the board must ask for bids and sell them for at least their face value. If no good bids come in, they can try again or sell them privately.

Key Takeaways

•Bonds must be sold for at least their face value.
•The board has to ask for bids in the newspaper before selling.
•If no good bids come in, the board can try again or sell privately.

Example

A school district wants to sell bonds to raise money for new buildings.

They have to ask for bids in the newspaper and sell the bonds to the highest bidder. If no one bids or the bids are too low, they can try again or sell the bonds directly to someone.

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

Official Source

View on CA.gov

§ 101310 Bond Sale Procedures

The bonds may be issued and sold for not less than their par value, but otherwise as the board determines. Before selling any bonds, or any part thereof, the board shall give notice inviting sealed bids in such manner as the board may prescribe. Such notice shall be published at least twice pursuant to a provision of Article 4 (commencing with Section 6060), Chapter 1, Division 7, Title 1 of the Government Code. If satisfactory bids are received, the bonds offered for sale shall be awarded to the highest responsible bidder. If no bids are received, or if the board determines that the bids received are not satisfactory as to price or responsibility of the bidders, the board may reject all bids received, if any, and either again give notice inviting bids or sell the bonds at private sale. (Added by Stats. 1971, Ch. 1161.)

Last verified: January 11, 2026

Key Terms

par value sealed bids highest responsible bidder private sale

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 101310.

§ 101310 Bond Sale Procedures

Public Utilities Code·California

AI SummaryVerified

§ 101310 Bond Sale Procedures

This law says that when selling bonds, the board must ask for bids and sell them for at least their face value. If no good bids come in, they can try again or sell them privately.

Key Takeaways

•Bonds must be sold for at least their face value.
•The board has to ask for bids in the newspaper before selling.
•If no good bids come in, the board can try again or sell privately.

Example

A school district wants to sell bonds to raise money for new buildings.

They have to ask for bids in the newspaper and sell the bonds to the highest bidder. If no one bids or the bids are too low, they can try again or sell the bonds directly to someone.

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

Official Source

View on CA.gov

§ 101310 Bond Sale Procedures

Last verified: January 11, 2026

Key Terms

par value sealed bids highest responsible bidder private sale

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 101310.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References