Section 5925 Of Chapter 12. Public Finance Contracts From California Government Code >> Division 6. >> Title 1. >> Chapter 12.
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.