Section 9510 Of Article 9. Refunding Bonds From California Water Code >> Division 5. >> Part 5. >> Chapter 6. >> Article 9.

. The board may, by resolution entered in its minutes, order the refunding of the whole or any part of the principal of any bond issue now or hereafter outstanding at lower rates of interest whenever in its judgment and opinion it will be for the best interests of the owners of lands assessed by the assessment to be refunded so to do.