§ 43900 City Bond Destruction Authority

• •A city can destroy old bonds (like IOUs for money) if they were made for city projects but never sold.
• •The city must decide that selling the bonds is no longer a good idea and that destroying them is better.
• •This only applies to bonds the city still has and hasn’t sold yet.

A city planned to sell bonds to build a new park, but now they have enough money from taxes and don’t need to sell the bonds.

The city can decide to destroy those unsold bonds because they don’t need the money anymore.