§ 55589
61 words·~1 min read·
/ca/water-code/55589A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In lieu of the exchange for outstanding bonds, the refunding bonds may be sold by the board for cash at not less than par and accrued interest, and the proceeds used for the purchase or retirement of the outstanding bonds upon terms agreed upon by the board and the holders of the bonds, but not to exceed par and accrued interest.