§ 19264 Bond Refunding Authorization
This law says that when voters approve the government to sell bonds, that approval also lets the government later sell new bonds to replace (refinance) the old ones, following the rules in Article 6.
A town sells bonds to build a new library after voters say yes. A few years later, interest rates go down, so the town wants to sell new bonds at the lower rate to pay off the old ones.
Because the original voter approval covered the bond sale, the town can use that same approval to issue the new, cheaper bonds and retire the old ones, as the law allows.
AI-generated — May contain errors. Not legal advice. Always verify source.
§ 19264 Bond Refunding Authorization
Last verified: January 10, 2026