Section 35996 Of Article 3. Sale And Exchange Of Bonds From California Water Code >> Division 13. >> Part 6. >> Chapter 2. >> Article 3.
35996
. (a) The bonds, or any part thereof, may be issued and sold
as the board determines.
(b) Before selling the bonds, or any part thereof, the board may
give notice inviting sealed bids in such manner as the board may
prescribe. If satisfactory bids are received, the bonds offered for
sale shall be awarded to the highest responsible bidder. If no bids
are received, or if the board determines that the bids received are
not satisfactory as to price or responsibility of the bidders, the
board may reject all bids received, if any, and either readvertise or
sell the bonds at private sale.
(c) In the alternative, the board may, if it determines that to do
so would produce a lower interest cost on the bonds, sell bonds at a
private sale without first advertising for bids.