Section 36447.12 Of Chapter 4.95. Alternative Provisions For The Issuance Of Bonds Of Improvement Districts From California Water Code >> Division 13. >> Part 6. >> Chapter 4.95.
36447.12
. In lieu of refunding outstanding bonds by defeasing or
calling for redemption, the board may also refund under Article 6
(commencing with Section 36060) of Chapter 2 by purchasing the bonds
to be refunded with proceeds of the refunding bonds or by acquiring
the bonds to be refunded and exchanging them for the refunding bonds,
in either case in a negotiated transaction with the bondholder or
through an intermediary agent of the district.