§ 43903 Bond Destruction Objection Process

• •The city can destroy old bonds (like old IOUs) if no one stops them.
• •People can stop the destruction by signing a paper if they don’t want the bonds destroyed.
• •At least half of the voters from the last big city election must sign to stop it.
• •The city must wait at least 3 days after getting the objections before deciding.

Imagine the city wants to throw away old papers that promised to pay for a park built 20 years ago.

If most people in the city don’t care, the city can destroy the papers. But if half the voters from the last election sign a paper saying 'Don’t do it!', the city has to listen and keep the papers.