Section 6691 Of Article 5. Refunding Bonds From California Health And Safety Code >> Division 6. >> Part 1. >> Chapter 6. >> Article 5.

. Refunding bonds shall be issued and delivered only when the bonds to be refunded have matured or are about to mature or are subject to retirement before maturity, or, if the outstanding bonds are not subject to retirement the retirement thereof shall have been assured or obtained by consent of the holders thereof.