California § 40245 - The bonds may be issued and sold for not less than their par value, but otherwise
Full text of California Public Contract Code - PCC § 40245 — The bonds may be issued and sold for not less than their par value, but otherwise, with citation guidance and answers to common questions.
§ 40245. The bonds may be issued and sold for not less than their par value, but otherwise
The bonds may be issued and sold for not less than their par value, but otherwise as the board determines. Before selling any bonds, or any part thereof, the board shall 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 again give notice inviting bids or sell the bonds at private sale.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 40245
What does Public Contract Code - PCC § 40245 cover?
Section 40245 ("The bonds may be issued and sold for not less than their par value, but otherwise") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 40245?
A common citation format is "Public Contract Code - PCC § 40245" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 40245 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.