§ 59121 Bond Refunding Authority

Government Code·California

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Key Takeaways

•The government can decide to pay back old bonds early if it's good for the public.
•They can do this even if the bonds aren't due yet.
•The decision is made by the local agency's leaders.

Example

A city has old bonds for fixing roads, but interest rates are now lower.

The city can choose to pay back those old bonds early and issue new ones at the lower rate to save money.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 59121 Bond Refunding Authority

Whenever the legislative body determines that the public interest, convenience, or necessity requires the refunding of bonds of an improvement district within the local agency, whether such bonds are due or not due or which may become due at the option of the local agency or by the consent of the bondholders or by any lawful means, it may proceed pursuant to this chapter. (Added by Stats. 1973, Ch. 256.)

Last verified: January 22, 2026

Key Terms

improvement refinance convenience necessity

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 59121.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References