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Article 6. Cancellation of Unsold Bonds   

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If any bonds authorized under the provisions of Sections 15100 and 15102, and Sections 15107 to 15140, inclusive, and Sections 15142 to 15261, inclusive, have not been offered for sale for one year from the date of the election at which they were authorized or remain unsold for a period of six months after having been offered for sale in the manner prescribed by the board of supervisors, the governing board of the district, for which the bonds were authorized, may petition the board of supervisors that has jurisdiction of the issuance and sale of the bonds to cause the unsold bonds to be canceled.

(Added by Stats. 1996, Ch. 277, Sec. 2. Operative January 1, 1998.)

Reference:

Education Code 15100

Education Code 15102

Education Code 15107-15140

Education Code 15142-15261