ARTICLE 8. Retirement of Bonds

Article 8 added by Stats. 1943, Ch. 370.

§§ 11780–11784 · 5 sections

• § 11780 Any surplus which exists in the construction fund shall be applied to the retirement of bonds issued for construction of the project by purchase or call.
• § 11781 In the event the bonds cannot be purchased at a price satisfactory to the department and are not by their terms callable prior to maturity such surplus shall…
• § 11782 The proceedings authorizing the issuance of bonds may provide limitations and conditions upon the time and manner of applying such surplus to the purchase and…
• § 11783 The terms upon which the bonds shall be purchased or called and such limitations and conditions as are mentioned in the preceding section shall be followed and…
• § 11784 All bonds retired by purchase or call shall be immediately canceled.