§ 101316 Refunding Bonds Voter Exemption
This law says that when the government issues new bonds to pay off old ones, it doesn't count as new debt, and voters don't need to approve it. It also lets the government decide to pay back these bonds early.
Imagine the city took out a loan to build a park 10 years ago. Now, they want to take out a new loan to pay off the old one because the new loan has better terms.
The city doesn't need to ask voters for permission to do this, and they can also choose to pay back the new loan early if they want.
AI-generated — May contain errors. Not legal advice. Always verify source.
§ 101316 Refunding Bonds Voter Exemption
Last verified: January 11, 2026