California Government Code ARTICLE 9 - Refunding of Bonded Indebtedness of Local Agencies

• Section 53550.
  The following terms shall have the following meanings:(a) “Local agency” means public district, public corporation, authority, agency, board, commission, county, city and county, city, school district,...
• Section 53551.
  The legislative body of any local agency may issue negotiable coupon bonds, to be denominated refunding bonds, for the purpose of refunding any of the...
• Section 53552.
  Whenever the legislative body of a local agency determines that prudent management of the fiscal affairs of the local agency requires that it issue refunding...
• Section 53553.
  When the legislative body determines to issue refunding bonds pursuant to this article, it shall adopt a resolution providing for the issuance of such bonds....
• Section 53554.
  Such refunding bonds shall:(a) Be negotiable in form;(b) Recite that they are bonds of the local agency issuing the bonds;(c) Recite that they are issued pursuant to the...
• Section 53555.
  Refunding bonds issued pursuant to this article may be exchanged for the bonds to be refunded on such basis as the legislative body determines is...
• Section 53556.
  The designated costs of issuing the refunding bonds may be paid by the purchaser of the refunding bonds or may be paid from any other...
• Section 53557.
  Any proceeds of sale of any refunding bonds may be deposited in escrow or trust with any bank or trust company within or without the...
• Section 53558.
  Such proceeds and investments in escrow or trust shall be in an amount at the time of issuance of such refunding bonds which is certified...
• Section 53559.
  Following the issuance of any refunding bonds pursuant to this article, the legislative body of the local agency shall provide for the payment of principal...
• Section 53560.
  Upon the issuance, sale and delivery or exchange of refunding bonds pursuant to this article:(a) If only the refunding bonds remain outstanding, such refunding bonds shall...
• Section 53561.
  It is hereby declared that it is a public purpose for a local agency to issue refunding bonds for the purposes set forth in this...
• Section 53562.
  The powers conferred by this article are in addition and supplemental to, and not in substitution for, and the limitations imposed by this article shall...
• Section 53569.
  Before selling any refunding bonds subject to the provisions of this article, any local agency shall advertise such bonds for sale at public sale and...

Last modified: October 22, 2018