Section 71970 Of Article 2. Sale Of Bonds And Use Of Proceeds From California Water Code >> Division 20. >> Part 7. >> Chapter 6. >> Article 2.
71970
. Before selling the bonds, or any part thereof, the board
shall give notice inviting sealed bids in such manner as it 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, it may
reject all bids received, if any, and either readvertise or sell the
bonds at private sale.