Section 9548 Of Chapter 2. Reassessment Proceedings From California Streets And Highways Code >> Division 11.5. >> Chapter 2.
9548
. If the legislative body elects to proceed pursuant to Section
9546, upon confirmation of the reassessment as provided in Section
9535 and in compliance with Sections 9536 and 9537, the lien of the
reassessment supersedes and supplants the lien of the original
assessment as to the portion of the unpaid principal amount thereof
which was security for the bonds which are to be refunded, but the
lien of the original assessment continues as to the portion of the
unpaid principal amount thereof which is security for the additional
bonds which are to be issued on the basis thereof until the
expiration of four years after the due date of the last installment
on the reassessment.
The lien of the reassessment and the lien of the continued portion
of the original assessment have equal priority as to the date the
original assessment became a lien upon the property assessed.
The notice of reassessment filed pursuant to Section 3114 shall be
entitled "Notice of Reassessment and Continuation of Assessment" and
shall specify the relationship between the reassessment and the
continuing amount of the original assessment.