Section 45402 Of Chapter 3. Bond Issuance From California Water Code >> Division 14. >> Part 8. >> Chapter 3.

. The board may divide the principal amount of any authorized issue of bonds into two or more series, and may fix different dates for the bonds of each series. When directed by resolution of the board, the treasurer shall sell the bonds or any series thereof for the best price obtainable, but in no event for less than 90 percent of the face value of the bonds and accrued interest.