§ 5925
67 words·~1 min read·
/ca/government-code/5925A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The purchase or other acquisition of bonds by or on behalf of the state or local government that issued the bonds does not cancel, extinguish, or otherwise affect the bonds and the bonds shall be treated as outstanding bonds for all purposes except to the extent otherwise determined by the issuer or otherwise provided in the constituent instruments defining the rights of the holders of the bonds.