§ 13632 Refunding District Bonds

Public Utilities Code·California

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Key Takeaways

•The district can issue new bonds to pay off old ones early.
•The new bonds can't be more than the allowed debt limit.
•The new bonds must be paid back within 5 years.

Example

A city has old bonds for building a park and wants to pay them off early to save money.

The city can issue new bonds to pay off the old ones, but the new bonds can't be more than the allowed debt limit and must be paid back within 5 years.

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

Official Source

View on CA.gov

§ 13632 Refunding District Bonds

The special district may issue refunding bonds, notes, or other securities for the purpose of paying and redeeming at or before maturity any bonds, notes or other securities issued under this article, provided that such refunding bonds, notes, or other securities shall not be in excess of the limitation of indebtedness authorized under this article and shall mature in not to exceed five years from their date. (Added by Stats. 1972, Ch. 310.)

Last verified: January 23, 2026

Key Terms

refunding bonds notes other securities limitation of indebtedness five years

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 13632.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References