Government Code section 5925

The purchase or other acquisition of bonds by or on behalf of the state or local government that issued the bonds does not cancel, extinguish, or otherwise affect the bonds and the bonds shall be treated as outstanding bonds for all purposes except to the extent otherwise determined by the issuer or otherwise provided in the constituent instruments defining the rights of the holders of the bonds.

Source: Section 5925, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=5925. (updated Mar. 26, 2008; accessed Jul. 14, 2025).

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Up to date

Verified:
Jul. 14, 2025

§ 5925's source at ca.gov

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Location: https://california.public.law/codes/government_code_section_5925

Original Source: Section 5925, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=5925. (last accessed May 12, 2025).