If at the time the vote cast at the election is canvassed a two-thirds majority of the votes cast upon the proposition favors the destruction of the unsold general obligation bonds, the president, in the presence of a majority of the members of the board, shall destroy the bonds.
Cal. Water Code § 36212
Destruction and Redemption of Bonds
Known as the California Water District Law
The act spans §§ 34000–38501 (855 sections).
Amended by Stats. 1955, Ch. 1329.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.