Section 1004.4 Of Article 5. Issuance Of Refunding Debentures From California Military And Veterans Code >> Division 4. >> Chapter 7. >> Article 5.
1004.4
. The department may from time to time or at any time sell or
exchange refunding debentures for the purpose of retiring, paying or
refunding either all or part of the outstanding debentures or
obligations, or of one or more series thereof, as it deems advisable.
Refunding debentures may be issued and delivered as outstanding
debentures or obligations to be refunded thereby, if the debentures
are mature or are about to mature or are subject to call or
redemption, or if the retirement thereof has been assured by consent
of the holders thereof. Refunding debentures may be delivered in
whole or in part in exchange for outstanding debentures or
obligations with the consent of the holders thereof.