Section 53400.

53400. A county, city, district, or political subdivision may sell any of its bonds, authorized by the electors and unsold, at a price which will net the purchaser not more than 8 percent a year, payable semiannually, on the par value of the bonds. (Amended by Stats. 1975, Ch. 130.)

Section 53401.

53401. This article does not apply to bonds authorized under a law permitting their sale at a price netting the purchaser more than 6 percent. (Added by Stats. 1949, Ch. 81.)