Whenever outstanding bonds are refunded, they shall be surrendered to the treasurer
of the district, or the county treasurer, as the case may be, who shall cancel them
by endorsing on their face the manner in which the refunding was effected (whether
by exchange or purchase, and the amount for which so purchased, if any) and by perforating
through each bond and each coupon attached thereto the word “canceled” together with
the date of cancellation.
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