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2019 California Code
Government Code - GOV
TITLE 5 - LOCAL AGENCIES
DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES
PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES
CHAPTER 2.5 - The Mello-Roos Community Facilities Act of 1982
ARTICLE 5 - Bonds
Section 53362.7.
Universal Citation: CA Govt Code § 53362.7 (2019)
53362.7.
The total authorized amount of the bonded indebtedness of a district or an improvement area therein, as approved by the qualified voter thereof, shall not be reduced by the principal amount of any refunding bonds issued to refund any or all outstanding bonds of the district or improvement area. This section does not constitute a change in, but is declaratory of, the existing law.
(Added by Stats. 1987, Ch. 1440, Sec. 14.)
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