Cal. Gov. Code § 53364

Current through the 2023 Legislative Session.
Section 53364 - Payment of principal and interest on refunding bonds

Following the issuance of any refunding bonds pursuant to this article, the treasurer of the local agency shall provide for the payment of principal and interest on the refunding bonds in the same manner as for the bonds being refunded. Payments on the refunding bonds may be made from the "refunding fund" or from the redemption fund established for the bonds being refunded. However, the bonds being refunded shall have a priority claim on funds in the redemption fund.

Ca. Gov. Code § 53364

Repealed and added by Stats. 1984, Ch. 269, Sec. 40. Effective July 3, 1984.