§ 90662 Refunding Bond Issuance Rules

• •This law is about rules for giving out new bonds to pay off old ones.
• •It covers how these new bonds should look, when they are paid back, and how interest works.
• •The rules apply unless there’s a special exception.

A city has old debt from building a school and wants to borrow new money to pay it off.

The city must follow these rules when they create the new loan, like how the papers should look and when they have to pay it back.