§ 105208 Bond Election Expiration Voidance

• •The board can stop selling unsold bonds after three years from the election.
• •A two‑thirds vote of all board members is required to cancel the bonds.
• •When the board’s ordinance takes effect, the authority to issue those bonds becomes void.

A city held a bond election in 2020 that approved $10 million of bonds. By 2024 only $6 million had been sold. The board votes 2/3 of its members to cancel the remaining $4 million, so those bonds can no longer be issued or sold.

Because more than three years have passed and the board got the required two‑thirds vote, the unsold bonds lose their authorization and can't be sold anymore.