In California, if bonds haven't been sold within a year after they are given to the county treasurer or not given to the treasurer within a year of the election approving them, the board can officially stop all related proceedings.

This law requires that a certified copy of a particular order be filed with the county treasurer in each county where the lands affected by an assessment, linked to specific bonds, are located.

When the order is received, the county treasurer must cancel any unsold bonds and the coupons attached to them.

If bonds that were supposed to be sold or issued get canceled, it doesn't change the fact that the assessment (which is the basis for these bonds) is still valid. The board is allowed to ask for payment on any part of this assessment. They can also decide to issue new bonds based on the remaining unpaid portion of the assessment.

This law states that if part of a bond issue is canceled, the board must collect the corresponding assessment amount that was meant to secure those canceled bonds. This should be done in installment payments, as the board decides.

The collected money is then deposited in the county treasury and paid out according to the district's needs, specifically prioritizing payments for which the assessment was originally intended.

This law section ensures that when assessments (payments) are called, they are kept at a level that will still allow enough funds to cover the payment of the principal and interest on any bonds that are still owed.