ARTICLE 2. Destruction of Unsold Bonds [29940. - 29943.]

Law Codes -> Government Code -> Article 29940 to 29943

• 29940.

  At any time after two years subsequent to the date of any election authorizing the issuance of bonds for county purposes, the board of supervisors may determine that the sale of any bonds remaining unsold is inexpedient and order their destruction, pursuant to this article.

• 29941.

  The board shall give notice of its intention to destroy the bonds by a notice published for one week in a newspaper of general circulation published and circulated in the county. The notice shall contain the time and place of the intended destruction, and the reason, and a general description of the character and amounts of the bonds. The time specified for the destruction of the bonds shall be at least one week after the date of completion of such publication.

• 29942.

  At the time and place specified and in accordance with the terms of the notice, the board shall publicly destroy the bonds.

• 29943.

  No other issue of bonds in place of those destroyed shall be made unless again authorized by a vote of the people.