Section 55586 Of Article 3. Refunding Bonds From California Water Code >> Division 16. >> Part 4. >> Chapter 2. >> Article 3.

. If at the election a majority of the votes cast are in favor of the issuance of the refunding bonds, the board shall be authorized to issue refunding bonds of the district not exceeding the maximum amount set forth in the resolution, payable out of the funds of the district to be provided as prescribed in Section 55591.