SECTIONS 52600-52602 - California Statutes

WATER CODE

SECTION 52600-52602

52600. Refunding bonds remaining in the hands of the county
treasurer after the outstanding bonds to be refunded thereby are
discharged, shall be forthwith canceled by the county treasurer and
shall never be an obligation of the district.

52601. If, upon the expiration of one year after an issue of
refunding bonds, heretofore or hereafter issued was deposited with
the county treasurer, all or part of the refunding bonds are unsold
or unexchanged, the board, by an order entered in its minutes, may
cancel all proceedings taken in connection with the unsold or
unexchanged refunding bonds as provided in Article 5, Chapter 2 of
this part.

52602. The cancellation will not affect the validity of the
assessment upon which the bonds are based, nor the validity of any
bonds previously sold or exchanged, or previously issued on the
assessment.