If any bonds remain unsold for six months after having been offered for sale, the board of directors of the district for which the bonds were issued or of a district containing any territory which at the time of the bond election was embraced within the district for which the bonds were issued, may petition the board of supervisors to cause the unsold bonds to be withdrawn from the market and canceled.
Cal. Pub. Util. Code § 22811
Cancellation of Unsold Bonds
Known as the California Airport District Act
The act spans §§ 22001–22909 (126 sections).
Added by Stats. 1953, Ch. 151.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.