§ 16953. — 16953. (Added by Stats. 2004, Ch. 215, Sec. 4.)

California § 16953.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 4.
• Title 2.: DIVISION 4. FISCAL AFFAIRS
• Part 3.: PART 3. STATE BONDS
• Ch. 8.: CHAPTER 8. The California Pension Restructuring Bond Act of 2004
• Art. 2.: ARTICLE 2. Issuance of Bonds to Finance the Program

Text

The committee may provide for the issuance of bonds any portion of which is to be used for the purpose of refunding outstanding bonds issued to fund or refund pension obligations, including the payment of the principal thereof and interest and redemption premiums, if any. The proceeds of bonds issued to refund any outstanding bonds may be applied to the retirement of those outstanding bonds at maturity, or the redemption, on any redemption date, or purchase of those outstanding bonds prior to maturity, subject to the terms and conditions as the committee deems advisable.

Legislative History

Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.