California · Water Code
WAT §9467: The investment may be made by the board by direct purchase of the bonds from time to time and in such manner as it determines and at such price or prices as it deems advisable but not to exceed par, p
What this law says, in plain English
A board may purchase bonds directly at times and prices it determines, but not above par value.
Read the full statutory text
The investment may be made by the board by direct purchase of the bonds from time to time and in such manner as it determines and at such price or prices as it deems advisable but not to exceed par, plus the accrued interest thereon.
Verify at the official source: California legislative text
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