Section 487.1 Of Article 5. Refunding Bonds From California Military And Veterans Code >> Division 2. >> Part 1. >> Chapter 10. >> Article 5.
487.1
. Refunding bonds may be issued in a principal amount
sufficient to provide funds for the payment of all revenue bonds to
be refunded thereby and in addition to the payment of all expenses
incident to the calling, retiring, or paying of such outstanding
revenue bonds and the issuance of such refunding bonds. Such expenses
include any amount necessary to be made available for the payment of
interest upon such refunding bonds from the date of sale thereof to
the date of payment of the revenue bonds to be refunded, or to the
date upon which the revenue bonds to be refunded will be paid
pursuant to the call thereof or agreement with the holders thereof,
and the premium, if any, necessary to be paid in order to call or
retire the outstanding revenue bonds and the interest accruing
thereon to the date of the call or retirement.