There is a newer version of the California Code
2011 California Code
Water Code
DIVISION 14. CALIFORNIA WATER STORAGE DISTRICT LAW [39000 - 48401]
CHAPTER 5. Revenue Warrants
Section 44955
CA Water Code § 44955 (through 2012 Leg Sess) What's This?
Revenue warrants may be sold at either public or private sale upon such terms and conditions as the board may determine. Such warrants may be sold at less than their par or face value, but no revenue warrant may be sold at a price which would yield to the purchaser an average of more than 8 percent per annum, payable semiannually, according to standard tables of bond values.
(Amended by Stats. 1977, Ch. 188.)
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