California § 53397.8. 53397.8. (Added by Stats. 1990, Ch. 1575, Sec. 1.)

California Statutes

§ 53397.8. — 53397.8. (Added by Stats. 1990, Ch. 1575, Sec. 1.)

California·Code GOV Government Code - GOV·Div. 2.·Title 5. DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES·Part 1. PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES·Ch. 2.8. CHAPTER 2.8. Infrastructure Financing Districts·Art. 4. ARTICLE 4. Tax Increment Bonds

The legislative body may, by majority vote, provide for refunding of bonds issued pursuant to this chapter. However, refunding bonds shall not be issued if the total net interest cost to maturity on the refunding bonds plus the principal amount of the refunding bonds exceeds the total net interest cost to maturity on the bonds to be refunded. The legislative body may not extend the time to maturity of the bonds.

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The legislative body may, by majority vote, provide for refunding of bonds issued pursuant to this chapter. However, refunding bonds shall not be issued if the total net interest cost to maturity on the refunding bonds plus the principal amount of the refunding bonds exceeds the total net interest cost to maturity on the bonds to be refunded. The legislative body may not extend the time to maturity of the bonds.

California § 53397.8. (53397.8. (Added by Stats. 1990, Ch. 1575, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.