ARTICLE 4. Unauthorized Refunding Modification

Article 4 added by Stats. 1943, Ch. 372.

§§ 25110–25119 · 9 sections

• § 25110 The provisions of this article are applicable only to refunding plans which both: (a) Were adopted prior to January 31, 1939. (b) Then contained no provisions…
• § 25111 The terms of any refunding plan and of the refunding bonds outstanding thereunder may be modified from time to time if the modification is approved in the…
• § 25112 The approval of the modification by the district shall be given by a resolution of its board and by its voters at an election called by the board.
• § 25113 Notice of the election shall be given and it shall be held in substantially the same manner as a bond election, except that a majority vote only is required…
• § 25115 The approval of the holders of outstanding refunding bonds affected by the modification shall be evidenced by either of the following: (a) The written consent…
• § 25116 If the modification is approved in the manner provided in this article, the district need not issue new refunding bonds and coupons in exchange for outstanding…
• § 25117 If the modification or modified refunding plan provides for the extension of the time of maturity of all or any of the refunding bonds, the district in lieu of…
• § 25118 All refunding bonds the terms of which have been modified shall continue to be binding outstanding bonds of the district and negotiable instruments…
• § 25119 Any modification of any refunding plan adopted pursuant to the provisions of this article may provide for its subsequent modification with the consent of the…