DIVISION 11. REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” 9000-9481›CHAPTER 8. Payment and Collection of Reassessments 9250-9291›ARTICLE 3. Payment of Entire Assessment 9270-9271

§ 9271

California Streets and Highways Code · 2026-09 edition · updated 2026-10-03 · California

If an owner pays a reassessment in a lump sum and the proceeds of that payment are used for the purchase or call of a bond, the person paying the reassessment shall be entitled to credit and reimbursement of his proportion of the interest saved by such purchase or call, less his proportion of any costs incurred for publishing or serving any notice of purchase or call for redemption.

(Added by Stats. 1951, Ch. 463.)

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California Streets and Highways Code

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