California · Government Code
GOV §43900: The legislative body of any city may destroy any bonds remaining in the possession of the city if: (a) The bonds were voted to be issued for municipal purposes.
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The legislative body of any city may destroy any bonds remaining in the possession of the city if: (a) The bonds were voted to be issued for municipal purposes. (b) The bonds have been executed but not sold and disposed of. (c) The sale and disposal of the bonds is deemed by the legislative body to have become inexpedient, and their destruction desirable.
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