§ 96502 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 another law that says something different.

Imagine a city owes money on old bonds, like an old loan for building a school.

The city can issue new bonds to pay off the old ones, but they have to follow these rules—like how the new bonds are made, when they’re due, and how interest is paid.