The special district may issue refunding bonds, notes, or other securities for the purpose of paying and redeeming at or before maturity any bonds, notes or other securities issued under this article, provided that such refunding bonds, notes, or other securities shall not be in excess of the limitation of indebtedness authorized under this article and shall mature in not to exceed five years from their date.
Cal. Pub. Util. Code § 13632
Short-Term Borrowing
Known as the Municipal Utility District Act
The act spans §§ 11501–14403 (486 sections).
Added by Stats. 1972, Ch. 310.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.