Section 29210 Of Article 4. Refunding Bonds From California Public Utilities Code >> Division 10. >> Part 2. >> Chapter 8. >> Article 4.
29210
. The district may provide for the funding or refunding of
outstanding general obligation indebtedness pursuant to this article,
if any of the following conditions exist:
(a) The district has indebtedness evidenced by bonds, notes, or
other evidences of indebtedness, which according to their terms are
subject to call or payment before maturity.
(b) The district has filed a petition under any bankruptcy law of
the United States and refunding of its indebtedness is authorized in
the bankruptcy proceedings.
(c) The holder or holders of outstanding indebtedness has
consented to exchange such outstanding bonds for refunding bonds
bearing a lower rate of interest than such outstanding bonds.