SECTIONS 25350-25354 - California Statutes

WATER CODE

SECTION 25350-25354

25350. Whenever the whole or any portion of any issue of bonds of
any district remains unissued for more than one year after the date
of the election at which the bonds were authorized, the board, by a
resolution adopted by a two-thirds vote of the membership of the
board, may cancel all or any of those bonds and all coupons
appurtenant to them.

25351. Whenever a resolution to cancel bonds is offered, its
consideration shall be postponed to a date fixed by the board which
is subsequent to final publication of the resolution.

25352. The resolution together with a notice stating the time fixed
by the board for the consideration of the resolution shall be
published once a week for at least two successive weeks in a
newspaper published in the office county.

25353. After the adoption of a resolution to cancel bonds no other
bonds shall be issued in pursuance of the proceedings taken in
relation to the issuance of the bonds so canceled.

25354. Any bonds and coupons so canceled shall be destroyed under
the direction of the board.