When sufficient money is in the Funding Fund to redeem one or more outstanding past due bonds, notes, or other evidences of indebtedness, or to redeem one or more of the outstanding bonds, notes, or other evidences of indebtedness, that are subject to call or payment before maturity, and that are proposed to be funded or refunded, the chief financial officer shall publish a notice that the chief financial officer is prepared to pay the bond, note, or other evidence of indebtedness and give its number, if any, in that notice. The notice shall be published once a week for two weeks in a newspaper of general circulation in the district, if there is one. Copies of that advertisement may be published in any newspaper or financial publication in the United States. If the bond, note, or other evidence of indebtedness to be called for redemption or refunded is not presented for redemption on or before the date specified for redemption, as set forth on the face of the outstanding bond, note, or other evidence of indebtedness, interest upon it shall cease.
(Amended by Stats. 2024, Ch. 106, Sec. 8. (AB 2325) Effective January 1, 2025.)