Section 16781 - Provisions applicable to issuance and sale of refunding bonds(a) Except as otherwise provided in this article or in subdivision (b), all of the provisions of this chapter are applicable to the issuance and sale of refunding bonds.(b)(1) Sections 16730 and 16757 are not applicable to the issuance and sale of refunding bonds.(2) Notwithstanding Section 16754.3, refunding bonds may be sold by negotiated sale if the Treasurer determines that it is in the best interest of the state to do so.EFFECTIVE 1/1/2000. Amended September 27, 1999 (Bill Number: SB 997) (Chapter 522).