§ 59119 Bond Refunding District Definition

• •This law talks about a special area called a 'district' that borrowed money by selling bonds.
• •The district wants to pay back that money in a new way.
• •The law helps the district change how it pays its debt.

Imagine your town borrowed money to build a new park and promised to pay it back over time.

This law lets the town change how it pays back that money, maybe to get a better deal or lower payments.