§ 13092 Bond Refunding Authority

Public Utilities Code·California

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Key Takeaways

•A district can pay back old bonds early or on time using new bonds.
•They can sell or trade these new bonds to get money to pay off the old ones.
•The district decides when to sell the new bonds before the old ones are due.

Example

A school district has old bonds to pay back in 5 years but wants to pay them now.

The district can issue new bonds, sell them to get money, and use that money to pay off the old bonds early.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 13092 Bond Refunding Authority

A district may also refund from time to time, whether at or prior to maturity, any outstanding indebtedness evidenced by its bonds, and may issue, and sell or exchange, bonds so to refund such indebtedness. Refunding bonds which are to be sold may be issued and sold at such time in advance of the time at which the bonds to be redeemed or paid out of the proceeds of such refunding bonds are to be so redeemed or paid as the board may determine. (Added by Stats. 1957, Ch. 2237.)

Last verified: January 23, 2026

Key Terms

refund outstanding indebtedness bonds refunding bonds board

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 13092.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References