DIVISION 5. Public Banks 57600-57607›CHAPTER 4. District Indebtedness 58950›ARTICLE 16. Acquisition and Cancellation of Bonds of Nonconsenting Bondholders 59590-59598

§ 59596

California Government Code · 2026-09 edition · updated 2026-09-27 · California

When money is placed in any fund for the retirement or payment of the original bonds of nonconsenting holders it shall be used only for that purpose. After all the original bonds of nonconsenting holders have been paid or retired, any sum remaining in the fund shall be returned to the local agency which advanced it.

(Added by Stats. 1951, Ch. 331.)

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California Government Code

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