California Government Code 53606 – The bonds purchased, which were issued by the purchaser, may be …
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The bonds purchased, which were issued by the purchaser, may be canceled either in satisfaction or sinking fund obligations or otherwise. When canceled, they are no longer outstanding, unless in its discretion, the legislative body holds then uncanceled. While held uncanceled, the bonds may be resold.
(Added by Stats. 1949, Ch. 81.)