Cal. Government Code § 53363.5

California · California Government Code · Status: effective · Effective 1986-09-24

Cite this

Citation: Cal. Government Code § 53363.5, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/848192
Permanent ID: ys:prov:848192@1
SHA-256: 7f098e3e7279750bb90ad1cd322fc420b7e21da592257978537c70e9e423e1d7

The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.

Full text

Any refunding bonds issued pursuant to this article may be exchanged for the bonds to be refunded on such basis as the legislative body determines is for the benefit of the district, but shall be issued in compliance with Section 53362.5. As an alternative to exchanging the refunding bonds for the bonds to be refunded, the legislative body may sell the refunding bonds at public or private sale. The proceeds of any sale of refunding bonds for cash shall be placed in the treasury of the local agency to the credit of a fund to be established for the purpose of refunding the bonds to be refunded, which fund shall be designated the “refunding fund,” and the proceeds of the sale shall be applied only as permitted by this article. The funds shall be secured and may be invested in accordance with any other laws applicable to the funds of the local agency.