{"data":{"id":"us-ca/gov-14064","jurisdiction":"us-ca","citation":"GOV § 14064","heading":"","body":"(a) Equipment obligations shall be sold by the Treasurer, after a resolution requesting the sale has been adopted by the commission. Equipment obligations may be sold by public bid or by a private negotiated sale. The Treasurer may sell equipment obligations at a discount not to exceed 5 percent of the par value thereof.\n(b) Equipment obligations, and the interest thereon, are exempt from taxation in this state, except for gift taxes.","path":["Government Code - GOV","TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA [8000. - 22980.]","DIVISION 3. EXECUTIVE DEPARTMENT [11000. - 15990.3.]","PART 5. DEPARTMENT OF TRANSPORTATION [14000. - 14463.]","CHAPTER 1. General [14000. - 14089.]","ARTICLE 4. Purchase, Sale, and Leasing of Passenger Transportation Vehicles [14060. - 14066.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"4be9ffbda2cbd2528c1393d1d2dfde039f32e18e75445368396703ed8b13807d","source_id":"us-ca","stale":false,"prev":"us-ca/gov-14063","next":"us-ca/gov-14066"},"notice":"GroundRules: Original legal text. Not legal advice."}