California Streets and Highways Code

§ 8571.5

SHC § 8571.5 Effective Sep 17, 1986Div. 10 · Part 3

Statute text

The legislative body may determine that bonds issued pursuant to this division may be refunded under specified conditions. If the legislative body so determines, it shall, in the resolution of intention to do the work, include all of the following:

(a)A declaration that bonds proposed in the resolution may be refunded.

(b)The specific conditions under which the bonds may be refunded, including a maximum interest rate and maximum number of years to maturity of the refunding bonds.

…

Legislative history

Amended by Stats. 1986, Ch. 874, Sec. 5. Effective September 17, 1986.