California Government Code 43795 – If any bonds called are not presented for redemption on the date …
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If any bonds called are not presented for redemption on the date fixed, on the day following a sum sufficient for the payment of the principal of such bonds and accrued interest to the date of redemption shall be placed in a special fund for that purpose, and interest on such bonds ceases on the redemption date.
(Added by Stats. 1949, Ch. 79.)