87.53.020 - Bondholders' consent necessary -- Offer to buy district property. - Washington Statutes

Bondholders' consent necessary — Offer to buy district property.

The acknowledged uniform written consent of one hundred percent of the holders of bonds may provide for cancellation of part of the bonds and for the manner and terms of payment of the balance. The bondholders may also make a firm offer for all property and rights of the district, except property in the district sold for taxes and district assessments, to be paid for by turning over for cancellation an appropriate amount in bonds with accrued interest.

[1951 c 237 § 2.]