Section 52754 Of Article 3. Redemption From California Water Code >> Division 15. >> Part 8. >> Chapter 4. >> Article 3.

. If no bids are received, or if the bids accepted are not sufficient to exhaust the money available for the purchase of outstanding bonds or refunding bonds, the county treasurer may, with the written assent of at least two members of the board, purchase at private sale with available money in the sinking fund, any of the refunding bonds for the payment of which the sinking fund was created.