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 said election remaining unsold shall not be issued or sold. When the ordinance takes effect, the authorization to issue said bonds shall become void.
Cal. Pub. Util. Code § 30908
Authorization and Issuance of Bonds
Known as the Southern California Rapid Transit District Law
The act spans §§ 30000–33021 (249 sections).
Amended by Stats. 1967, Ch. 1215.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.