Section 17249 Of Article 3. Reimbursement And Refunding Warrants From California Government Code >> Division 4. >> Title 2. >> Part 4. >> Chapter 2. >> Article 3.

. At the time specified in the notice of sale, the Controller shall open the bids, and award the warrants to the persons making the best bids as determined by him. The Controller may reject any and all bids. No bid for less than the face value of any warrants shall be accepted.