Section 9450 Of Chapter 12. Advance Retirement Of Bonds From California Streets And Highways Code >> Division 11. >> Chapter 12.

. Whenever there is in the redemption fund two thousand dollars ($2,000) or more available for the payment of principal of bonds, and not collected for the purpose of paying the principal of bonds maturing on the next second day of July, the city shall purchase or call bonds as provided in this chapter.