Section 9470 Of Article 6. Funds And Warrants From California Water Code >> Division 5. >> Part 5. >> Chapter 6. >> Article 6.

. Any bonds purchased pursuant to the provisions of this article, may be delivered to the State Treasurer for cancellation and the bonds shall thereupon be canceled by the State Treasurer and after cancellation shall cease to be an indebtedness or obligation of the drainage district and the assessment, or either, for any purpose whatsoever.