Refunding bonds may be issued before the first date upon which the bonds being refunded are subject to call or redemption. The final maturity date of any refunding bonds shall not be later than the final maturity date of the series of bonds being refunded.
Cal. Gov. Code § 16783
Refunding Bonds
Known as the State General Obligation Bond Law
The act spans §§ 16720–16787 (51 sections).
Added by Stats. 1987, Ch. 1030, Sec. 3.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.