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2024 California Code
Government Code - GOV
TITLE 1 - GENERAL
DIVISION 7 - MISCELLANEOUS
CHAPTER 5 - Joint Exercise of Powers
ARTICLE 4 - Local Bond Pooling
Section 6589.
Universal Citation:
CA Govt Code § 6589 (2024)
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6589. An authority may enter into a bond purchase agreement with a local agency or agencies. The bond purchase agreement shall specify the maximum rate of interest, the cost of issuance, the amount of required reserve, and the procedure to be used in case of default. Notwithstanding any other provision of law, local agencies may sell their bonds to the authority on a negotiated basis without compliance with any public sale requirement included in the statutes under which the bonds are issued.
(Amended by Stats. 1987, Ch. 481, Sec. 4. Effective September 9, 1987.)
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