§ 22783 Bond Sale Requirements

• •The government sells bonds (like IOUs) to borrow money.
• •They can't sell these bonds for less than their face value (the amount written on them).
• •The local leaders (board of supervisors) decide when and how many bonds to sell.

Imagine the city needs money to build a new park.

They might sell bonds to raise the money. If a bond is worth $100, they can't sell it for $90—they have to sell it for $100 or more.