Section 29963 Of Article 3. Special Improvement Bonds From California Government Code >> Division 3. >> Title 3. >> Chapter 6. >> Article 3.

. If any bonds are acquired at less than their par value, the board may reduce the total principal amount of any issue of bonds so acquired and held to a total principal amount which it may fix by ordinance. The reduced total principal amount of any issue shall not be less at par than the total purchase price of the total principal amount of the bonds of the issue acquired by the county.