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DIVISION 9. EXPENDITURE LIMITATIONS 7900-7914›PART 1. GENERAL 36501-36525›CHAPTER 7. City Attorney 41801-41805›ARTICLE 4. Investment Bond Act of 1909 43760-43797

§ 43776

California Government Code · 2026-09 edition · updated 2026-09-27 · California

When bonds are acquired at less than their par value, the legislative body may reduce the total principal amount of any issue acquired and held by it to a total principal amount to be fixed by ordinance. The reduced total principal amount of the issue shall not be less at par than the total purchase price of the total principal amount of the issue acquired by the legislative body.

(Added by Stats. 1949, Ch. 79.)

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California Government Code

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