Section 53809 Of Article 6.5. Building Certificates From California Government Code >> Division 2. >> Title 5. >> Part 1. >> Chapter 4. >> Article 6.5.
53809
. The board may provide, by resolution, for the issuance of
refunding certificates for the purpose of refunding any certificates
of the board issued pursuant to this article and then outstanding,
either by voluntary exchange with the holders of the outstanding
certificates, or to provide funds to redeem and retire the
outstanding certificates, with accrued interest and any redemption
value payable on any call date. The issuance of the refunding
certificates, the maturities and other details of the certificates,
the rights of the certificate holders, and the duties of the board in
respect to the certificates, are governed by the provisions of this
article insofar as they are applicable. Refunding certificates may be
issued by the board to refund certificates originally issued or to
refund certificates of the board previously issued for refunding
purposes.