§ 22811 Unsold Bond Cancellation Process

Public Utilities Code·California

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Key Takeaways

•If bonds aren't sold within six months, the board can ask to cancel them.
•The board that issued the bonds or a board from a related area can make this request.
•They have to ask the board of supervisors to cancel the unsold bonds.

Example

A school district issues bonds to build a new school, but after six months, some bonds are still unsold.

The school district's board can ask the county supervisors to cancel the unsold bonds so they are no longer for sale.

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Official Source

View on CA.gov

§ 22811 Unsold Bond Cancellation Process

If any bonds remain unsold for six months after having been offered for sale, the board of directors of the district for which the bonds were issued or of a district containing any territory which at the time of the bond election was embraced within the district for which the bonds were issued, may petition the board of supervisors to cause the unsold bonds to be withdrawn from the market and canceled. (Added by Stats. 1953, Ch. 151.)

Last verified: January 23, 2026

Key Terms

bonds unsold board of directors board of supervisors withdrawn from the market and canceled

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 22811.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References