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Section 101318 Of Article 4. Refunding From California Public Utilities Code >> Division 10. >> Part 13. >> Chapter 8. >> Article 4.

101318
. Refunding bonds shall bear interest at a rate not exceeding the interest rate on the refunded bonds, but payment of the refunding bonds shall begin not later than one year from the date thereof and be completed in not more than 40 years from that date.