If the proposals or contract with the bondholders so provides, the legislative body may sell all of the new bonds for cash and pay the bondholders in cash at a price to be fixed in the proposals or contract.
Cal. Gov. Code § 59597
Acquisition and Cancellation of Bonds of Nonconsenting Bondholders
Known as the Special Assessment and Bond Refunding Law
The act spans §§ 59100–59674 (167 sections).
Added by Stats. 1951, Ch. 331.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.