Refunding bonds shall bear interest at a rate not exceeding the interest rate on the refunded bonds, but payment of the refunding bonds shall begin not later than one year from the date thereof and be completed in not more than 40 years from that date.
Cal. Pub. Util. Code § 50253
Refunding
Known as the San Joaquin Regional Transit District Act
The act spans §§ 50000–50507 (187 sections).
Added by Stats. 1963, Ch. 839.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.