§ 41-7-931 — Cancellation of unissued bonds; resolution of board

Whenever the whole or any portion of any issue of bonds of any
district remains unissued for more than one (1) year after the
date of the election at which the bonds were authorized, the
board of commissioners, by a resolution adopted by a two-thirds
vote of the membership of the board of commissioners, may cancel
all or any of those bonds and all coupons appurtenant to them.