Section 11751 Of Article 5. Issuance And Sale From California Water Code >> Division 6. >> Part 3. >> Chapter 8. >> Article 5.

. Bonds may be sold below the par or face value thereof, but the sale price shall not be less than 94 percent of the par or face value of the bonds, and the sale price shall include the interest which has accrued thereon up to the date of delivery of the bonds.