Section 59273 Of Article 5. Notice To Bondholders Of Proposed Refunding And Invitation For Proposals From California Government Code >> Division 1. >> Title 6. >> Chapter 5. >> Article 5.
59273
. In the notice the legislative body shall invite the holders
of the original bonds to submit to it one or more written proposals
stating the terms upon which they will deliver their bonds for
cancellation to the legislative body or to any official it designates
in consideration for any one of the following:
(a) Delivery of new bonds against the district described in the
resolution of intention.
(b) A cash sum to be specified in the proposal.
(c) The delivery and payment of any combination of such bonds and
cash specified in the proposal.