Only the property in a special district is taxable for the payment of the principal and interest on any refunding bonds which are issued for the purpose of refunding any indebtedness of a special district.
Cal. Pub. Util. Code § 13284
Refunding
Known as the Municipal Utility District Act
The act spans §§ 11501–14403 (486 sections).
Enacted by Stats. 1951, Ch. 764.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.