After the expiration of three years after a bond election, the board may determine, by ordinance adopted by a two-thirds vote of the board, that any or all of the bonds authorized at the election remaining unsold shall not be issued or sold. When the ordinance takes effect, the authorization to issue those bonds shall become void.
Cal. Pub. Util. Code § 102509
Authorization and Issuance of General Obligation Bonds
Known as the Sacramento Regional Transit District Act
The act spans §§ 102000–102700 (163 sections).
Amended by Stats. 2006, Ch. 272, Sec. 36
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.