Section 96500 Of Article 4. Refunding From California Public Utilities Code >> Division 10. >> Part 9. >> Chapter 7. >> Article 4.

. Whenever the board by resolution passed by a vote of two-thirds of all its members determines that the refunding of the whole or any portion of the bonded indebtedness will be of advantage to the district the board may refund the bonded indebtedness or any portion thereof and issue refunding bonds of the district therefor.