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DIVISION 16. COUNTY WATERWORKS DISTRICTS 55000-55991›PART 4. FINANCIAL PROVISIONS 55500-55720›CHAPTER 2. Bonds 55520-55679›ARTICLE 3. Refunding Bonds 55580-55591

§ 55589

California Water Code · 2018-11 edition · updated 2026-10-04 · California

In lieu of the exchange for outstanding bonds, the refunding bonds may be sold by the board for cash at not less than par and accrued interest, and the proceeds used for the purchase or retirement of the outstanding bonds upon terms agreed upon by the board and the holders of the bonds, but not to exceed par and accrued interest.

(Added by Stats. 1953, Ch. 155.)

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California Water Code

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