Section 59597 Of Article 16. Acquisition And Cancellation Of Bonds Of Nonconsenting Bondholders From California Government Code >> Division 1. >> Title 6. >> Chapter 5. >> Article 16.

. If the proposals or contract with the bondholders so provides, the legislative body may sell all of the new bonds for cash and pay the bondholders in cash at a price to be fixed in the proposals or contract.