Section 74870 Of Article 6. Sale Of Bonds And Use Of Proceeds From California Water Code >> Division 21. >> Part 6. >> Chapter 3. >> Article 6.
74870
. The bonds as issued may be sold at such times and in such
amounts as the board deems expedient, after a notice inviting bids
therefor has been published in the district pursuant to Section 6062
of the Government Code. A certified check payable to the district for
at least 2 percent of the amount of the bonds offered shall
accompany each bid, conditioned that the bidder will accept and pay
for the bonds bid for if awarded to him, otherwise such check shall
be forfeited to the district and the amount thereof paid into the
treasury. If no bids are received the bonds offered may be sold at
private sale.