This section defines 'public securities' as any bonds, notes, warrants, or other forms of debt issued by a public body, including any interest coupons attached to them.

This section defines what a "public body" includes in the context of the article. It refers to any type of local government or government-related entity, such as counties, cities, school districts, or any agency within these entities.

This law section specifies that members of a legislative body, or officers and employees of a public body, are not considered to have a personal interest in contracts related to selling public securities (like bonds) as long as the securities are sold to the highest bidder through a public sale. To ensure transparency, there must be a public notice inviting bids, published as required by relevant law or in a widely-read newspaper at least five days before the sale.