California § 43738. 43738. (Added by Stats. 1949, Ch. 79.)

California Statutes

§ 43738. — 43738. (Added by Stats. 1949, Ch. 79.)

California·Code GOV Government Code - GOV·Div. 4.·Title 4. DIVISION 4. FINANCIAL PROVISIONS·Ch. 4. CHAPTER 4. Bonds·Art. 3. ARTICLE 3. Refunding Indebtedness

If the refunding bonds are issued in whole or in part to refund before maturity an indebtedness evidenced by bonds, notes, or other evidences of indebtedness, which according to their terms are subject to call or payment before maturity at a price in excess of par, the refunding bonds may be exchanged at not less than their par value for such other bonds, notes, or evidences at the price specified therein for payment before maturity, subject to adjustment of accrued interest to the date of exchange.

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If the refunding bonds are issued in whole or in part to refund before maturity an indebtedness evidenced by bonds, notes, or other evidences of indebtedness, which according to their terms are subject to call or payment before maturity at a price in excess of par, the refunding bonds may be exchanged at not less than their par value for such other bonds, notes, or evidences at the price specified therein for payment before maturity, subject to adjustment of accrued interest to the date of exchange.

California § 43738. (43738. (Added by Stats. 1949, Ch. 79.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Added by Stats. 1949, Ch. 79.

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