If the legislative body makes all or part of such advancement it may reimburse the local agency of which it is the legislative body, entirely or partially by taking all or part of such new bonds at par.
Cal. Gov. Code § 59593
Acquisition and Cancellation of Bonds of Nonconsenting Bondholders
Known as the Special Assessment and Bond Refunding Law
The act spans §§ 59100–59674 (167 sections).
Added by Stats. 1951, Ch. 331.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.