The local agency shall have the power out of any funds available therefor to purchase its bonds or notes. The local agency may hold, pledge, cancel, or resell such bonds, subject to and in accordance with agreements with the bondholders.
The legislature occasionally skips outline levels.
For example:
(3) A person may apply [...]
(4)(a) A person petitioning for relief [...]
In this example, (3), (4),
and (4)(a) are all outline levels, but
(4) was
omitted by its authors. It's only implied. This presents an
interesting challenge when laying out the text. We've
decided to display a blank section with this note, in order
to aide readability.