Section 53390.7 Of Article 5. Senior Obligation Bonds From California Government Code >> Division 2. >> Title 5. >> Part 1. >> Chapter 2.7. >> Article 5.

. The bonds may be sold at discount not to exceed 5 percent of par at public sale. At least five days prior to the sale, notice shall be published, pursuant to Section 6061, in a newspaper of general circulation and in a financial newspaper published in the City and County of San Francisco and in the City of Los Angeles. The bonds may be sold at not less than par to the federal government at private sale without any public advertisement.