Section 25408 Of Chapter 17. Revenue Bonds From California Streets And Highways Code >> Division 16. >> Part 1. >> Chapter 17.

. The revenue bonds shall be issued and sold by the board of directors at such times and manner and in such amounts as may be required to meet the demands of the district as may be determined by the board of directors or they may be delivered to any contractor performing any work for the district, at par, in satisfaction of any sum due upon his contract.