§ 29972 Bond Redemption Procedures

• •If no one offers to buy the bonds, the board can decide to buy them back themselves.
• •The board will use the money they have to buy back as many bonds as they can.
• •They will buy back the bonds in order, one by one.

Imagine you have a lemonade stand and you sold IOUs to your friends to buy more lemons. But no one wants to buy those IOUs back from your friends.

You can use the money you have to buy back those IOUs from your friends, one at a time, until you run out of money.