§ 43743 Debt Instrument Cancellation

• •When old debts (like bonds or notes) are paid off, the treasurer must mark them as 'canceled'.
• •The treasurer writes the paid amount, the word 'canceled', and the date on the document.
• •This is to show the debt is fully paid and no longer owed.

You borrow money from the city and get a paper saying you owe them $100.

When you pay back the $100, the city treasurer writes 'canceled' on that paper, along with the amount and date, to show you don’t owe anything anymore.