§ 53606
46 words·~1 min read·
/ca/government-code/53606A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The bonds purchased, which were issued by the purchaser, may be canceled either in satisfaction or sinking fund obligations or otherwise. When canceled, they are no longer outstanding, unless in its discretion, the legislative body holds then uncanceled. While held uncanceled, the bonds may be resold.