Section 16953 Of Article 2. Issuance Of Bonds To Finance The Program From California Government Code >> Division 4. >> Title 2. >> Part 3. >> Chapter 8. >> Article 2.
16953
. The committee may provide for the issuance of bonds any
portion of which is to be used for the purpose of refunding
outstanding bonds issued to fund or refund pension obligations,
including the payment of the principal thereof and interest and
redemption premiums, if any. The proceeds of bonds issued to refund
any outstanding bonds may be applied to the retirement of those
outstanding bonds at maturity, or the redemption, on any redemption
date, or purchase of those outstanding bonds prior to maturity,
subject to the terms and conditions as the committee deems advisable.