§ 16783 Early Refunding Bond Limits

• •You can issue new bonds to replace old ones before the old ones can be paid back early.
• •The new bonds must be fully paid back by the same final date as the old ones.

Imagine you have a loan for your house that you can pay off early in 5 years, but you want to get a new loan now to replace it.

You can take out the new loan now, but you still have to finish paying it off by the same final date as your original loan.