Statute · California Government Code
Cal. Gov't Code § 43776 — Investment Bond Act of 1909
Cal. Gov't Code § 43776
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
When bonds are acquired at less than their par value, the legislative body may reduce the total principal amount of any issue acquired and held by it to a total principal amount to be fixed by ordinance. The reduced total principal amount of the issue shall not be less at par than the total…
Citator
Cal. Gov't Code § 43776 — Investment Bond Act of 1909 is in force in the current edition of the Code, and nothing recorded condemns it.
When bonds are acquired at less than their par value, the legislative body may reduce the total principal amount of any issue acquired and held by it to a total principal amount to be fixed by ordinance. The reduced total principal amount of the issue shall not be less at par than the total purchase price of the total principal amount of the issue acquired by the legislative body.