§ 9524 Refunding Bond Assessment Collection

• •If new bonds are sold to replace old ones, the payments for the old bonds must still be collected.
• •If you don’t pay on time, you’ll face penalties, just like with the original bonds.
• •The rules for selling, buying back, and transferring property for unpaid bonds stay the same, even with the new bonds.

Imagine you owe money on your house, and the bank gives you a new loan to pay off the old one.

You still have to make your payments on time. If you don’t, you’ll get fined, and the bank can still take your house, just like with the old loan.