The board shall by resolution determine the amount of the outstanding bonds to be refunded, fix the maximum amount of refunding bonds to be issued, the maximum rate of interest to be paid (which shall not exceed the rate of interest on the bonds to be refunded), and the number of years, not exceeding 30, that the refunding bonds or any part thereof are to run.
Cal. Water Code § 55581
Refunding Bonds
Known as the County Waterworks District Law
The act spans §§ 55000–55991 (184 sections).
Added by Stats. 1953, Ch. 155.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.