After the expiration of three years after a bond election the board may determine, by ordinance adopted by a vote of two-thirds of all the members 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 these bonds shall become void.
Cal. Pub. Util. Code § 105208
Authorization and Issuance of General Obligation Bonds
Known as the Sonoma-Marin Area Rail Transit District Act
The act spans §§ 105000–105337 (123 sections).
Added by Stats. 2002, Ch. 341, Sec. 4
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.