§ 103508 Bond Election Expiration Voidance

Public Utilities Code·California

AI SummaryVerified

This law says that if bonds approved in an election aren't sold within 3 years, the board can vote to cancel them with a two-thirds majority.

Key Takeaways

•Bonds not sold within 3 years can be canceled.
•The board needs a two-thirds vote to cancel them.
•Once canceled, those bonds can't be issued or sold anymore.

Example

A city holds a vote to sell bonds for building a new park. Three years pass, and some bonds still haven't been sold.

The city board can vote (with at least two-thirds agreeing) to cancel the unsold bonds, meaning they won't be sold or used.

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

Official Source

View on CA.gov

§ 103508 Bond Election Expiration Voidance

After the expiration of three years after a bond election, the board may determine, by ordinance adopted by a vote of two-thirds of all the members of the board, that any or all of the bonds authorized at the election remaining unsold shall not be issued or sold. When the ordinance takes effect, the authorization to issue those bonds shall become void. (Added by Stats. 1974, Ch. 502.)

Last verified: January 11, 2026

Key Terms

bond election ordinance two-thirds vote authorization to issue bonds void

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 103508.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References