Statutes, codes, and regulations
CALIFORNIA CODES
CALIFORNIA GOVERNMENT CODETitle 5 - LOCAL AGENCIESDivision 2 - CITIES, COUNTIES, AND OTHER AGENCIESPart 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIESChapter 2.5 - THE MELLO-ROOS COMMUNITY FACILITIES ACT OF
Article 5 - BONDS
Section 53362.5 - When refunding bonds not to be issued

Cal. Gov. Code § 53362.5

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Current through the 2023 Legislative Session.
Section 53362.5 - When refunding bonds not to be issued

Refunding bonds shall not be issued if the total interest cost to maturity on the refunding bonds plus the principal amount of the refunding bonds exceeds the total interest cost to maturity on the bonds to be refunded plus the principal amount of the bonds to be refunded. Subject to these limitations, the principal amount of the refunding bonds may be more than, less than, or the same as the principal amount of the bonds to be refunded.

Ca. Gov. Code § 53362.5

Amended by Stats 2007 ch 670 (AB 373),s 109, eff. 1/1/2008.