Section 15840 Of Chapter 5. Revenue Bonds From California Government Code >> Division 3. >> Title 2. >> Part 10b. >> Chapter 5.
15840
. The board may provide, by resolution, for the issuance of
refunding bonds for the purpose of refunding any bonds of the board
issued pursuant to this part and then outstanding, either by
voluntary exchange with the holders of the outstanding bonds, or to
provide funds to redeem and retire the outstanding bonds, with
accrued interest, and any premium payable on the bond at maturity or
at any call date. The issuance of the refunding bonds, the maturities
and other details of the bonds, the rights of the bondholders, and
the duties of the board in respect to the bonds, are governed by the
foregoing provisions of this part insofar as they are applicable.
Refunding bonds may be issued by the board to refund bonds originally
issued, or to refund bonds of the board previously issued for
refunding purposes.