§ 81944 Refunding Revenue Bonds

• •The government can sell new bonds to pay off old bonds.
• •The rules for selling new bonds are the same as the rules for the old bonds.
• •This helps manage debt, like refinancing a loan to get better terms.

Imagine you have a big loan for your house with high payments. You find a bank that offers a new loan with lower payments to pay off the old one.

The government can do something similar with bonds. They can issue new bonds to pay off old ones, just like refinancing a loan.