§ 29970 Bond Redemption Proposal Notice

• •Every year, the county must check if there's enough money in a special fund (sinking fund) to pay back some bonds (like loans) before they're due.
• •If there's enough money, the county has to tell people by putting an ad in a local newspaper for two weeks in a row.
• •The ad must say how much money is available to pay back the bonds and where and when people can send their offers to sell their bonds back to the county.

Imagine the county has a piggy bank (sinking fund) to save money to pay back some big loans (bonds) they took out to build a new park.

Every year, the county checks if there's enough money in the piggy bank to pay back some of those loans early. If there is, they have to put an ad in the local newspaper for two weeks, saying something like, 'Hey, we have $100,000 to pay back some park bonds! If you have one of these bonds and want to sell it back to us, send us your offer by June 1st at the county office.'