§ 19732 Unsold Bond Cancellation Process

Education Code·California

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Key Takeaways

•If library bonds don't sell in 6 months, they can be taken off the market.
•The library board can ask the county to cancel the unsold bonds.
•This only applies to bonds issued for library districts.

Example

A city tries to sell bonds to build a new library, but after 6 months, half of them haven't sold.

The library board can ask the county to cancel the unsold bonds so they don't have to keep trying to sell them.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 19732 Unsold Bond Cancellation Process

Whenever any bonds issued under this article remain unsold for the period of six months after having been offered for sale in the manner prescribed by the board of supervisors, the board of trustees of the library district for or on account of which the bonds were issued, or of any library district composed wholly or partly of territory which, at the time of holding the election authorizing the issuance of the bonds, was embraced within the district for or on account of which the bonds were issued, may petition the board of supervisors to cause the unsold bonds to be withdrawn from market and canceled. (Enacted by Stats. 1976, Ch. 1010.)

Last verified: January 23, 2026

Key Terms

bonds unsold board of supervisors board of trustees library district withdrawn from market and canceled

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 19732.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References