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2017 California Code
Streets and Highways Code - SHC
DIVISION 11.5 - REFUNDING ACT OF 1984 FOR 1915 IMPROVEMENT ACT BONDS
CHAPTER 1 - General Provisions and Definitions
Section 9504.
Universal Citation: CA St & Hwy Code § 9504 (2017)
9504.
It is the intention of this division that the outstanding bonds and the original assessments shall remain in full force and effect and secured by the original assessments until superseded and supplanted by reassessments and refunding bonds validly and legally issued pursuant to this division, at which time the reassessments shall become the security for the refunding bonds and the refunding escrow shall become the security for any outstanding bonds not exchanged for refunding bonds.
(Added by Stats. 1984, Ch. 496, Sec. 1. Effective July 17, 1984.)
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