ARTICLE 5.5. Refunding of Ad Valorem Tax or Assessment Bonds

Article 5.5 added by Stats. 1973, Ch. 256.

§§ 59280–59286 · 7 sections

• § 59280 The legislative body shall have power under this chapter to refund bonds which constitute an indebtedness of a local agency or any improvement district or zone…
• § 59281 Refunding bonds may be issued under this chapter for the purpose of refunding any indebtedness of the local agency which is evidenced by bonds, whether due or…
• § 59282 The incidental costs of issuing the refunding bonds may be paid by the purchaser of the refunding bonds or may be paid from any other legally available source…
• § 59283 The proceeds of the sale of any refunding bonds shall be deposited in escrow or in trust with any bank or trust company within or without the state, or both…
• § 59284 Such proceeds and reinvestments in escrow or in trust shall be in an amount at the time of the issuance of such refunding bonds sufficient to meet the…
• § 59285 Upon the issuance, sale and delivery or exchange of refunding bonds pursuant to this article, if both the refunding bonds and the bonds to be refunded remain…
• § 59286 In proceeding under the alternatives provided for in this article, it shall be unnecessary for the legislative body to give notice to the bondholders and to…