§ 16677 Fiscal Agent Bond Cancellation

• •If someone is in charge of handling money (like a bank or agent), they must tell the person who sent the money that they got it.
• •They also have to cancel any paid bonds or coupons right away.
• •After canceling, they must send those paid bonds or coupons back to the Treasurer.

Imagine you pay your school lunch money to the office, and they give you a receipt.

The office has to tell the lunch money collector they got your payment. Then, they have to mark your payment as 'paid' and send the receipt back to the school's main office.