If the legislative body determines to issue refunding bonds pursuant to this article it shall adopt a resolution providing for their issuance. The resolution shall:
(a) Describe the bonds being refunded and state the date on which it is anticipated that the exchange or purchase necessary to effect the refunding will occur.
(b) Fix the date of the refunding bonds.
(c) Designate the denomination or denominations of the refunding bonds.
(d) Fix the minimum rate or rates of interest to be paid on the refunding bonds.
(e) Fix the maturity dates of the refunding bonds, which shall not exceed the latest maturity date of the bonds being refunded.
(f) Designate the place or places of payment of principal and interest on the refunding bonds and on the bonds to be refunded.
(g) Describe the form of the refunding bonds.
(h) State the designated costs of issuing the refunded bonds, as defined by Section 53363.8.
(Added by Stats. 1984, Ch. 269, Sec. 33. Effective July 3, 1984.)
Last modified: October 25, 2018