§ 103510. — 103510. (Added by Stats. 1974, Ch. 502.)

California § 103510.

• Jurisdiction: California
• Code PUC: Public Utilities Code - PUC
• Div. 10.: DIVISION 10. TRANSIT DISTRICTS
• Part 15.: PART 15. SAN MATEO COUNTY TRANSIT DISTRICT
• Ch. 7.: CHAPTER 7. Bonds and Other Evidences of Indebtedness
• Art. 1.: ARTICLE 1. Authorization and Issuance of General Obligation Bonds

Text

The board may provide for the issuance, sale, or exchange of refunding bonds to redeem or retire any bonds issued by the district upon the terms, at the times and in the manner which it determines. Refunding bonds may be issued in a principal amount sufficient to pay all, or any part of, the principal of such outstanding bonds, the interest thereon and the premiums, if any, due upon call and redemption thereof prior to maturity, and all expenses of such refunding. The provisions of this article for the issuance and sale of bonds apply to the issuance and sale of such refunding bonds; except that (a)
no election need be called or held for the purpose
of authorizing the issuance of refunding bonds, and (b)
when refunding bonds are to be exchanged for outstanding bonds the method of exchange shall be as determined by the board.

Legislative History

Added by Stats. 1974, Ch. 502.