SECTIONS 92570-92571 - California Statutes

EDUCATION CODE

SECTION 92570-92571

92570. The regents may provide for the issuance, sale, or exchange
of refunding bonds for the purpose of redeeming or retiring any
revenue bonds issued by the regents. All provisions of this chapter
applicable to the issuance of revenue bonds are applicable to the
funding or refunding bonds and to the issuance, sale, or exchange of
funding or refunding bonds.

92571. Funding or refunding bonds may be issued in a principal
amount sufficient to provide funds for the payment of all bonds to be
funded or refunded by such funding or refunding bonds, and in
addition for the payment of all expenses incident to the calling,
retiring, or paying of such outstanding bonds, and the issuance of
such funding or refunding bonds. These expenses include the
difference in amount between the par value of the funding or
refunding bonds and any amount less than par for which the funding or
refunding bonds are sold, any amount necessary to be made available
for the payment of interest upon such funding or refunding bonds from
the date of sale of the funding or refunding bonds to the date of
payment of the bonds to be funded or refunded or to the date upon
which the bonds to be funded or refunded will be paid pursuant to the
call of the bonds to be funded or refunded or agreement with the
holders of the bonds to be funded or refunded, and the premium, if
any, necessary to be paid in order to call or retire the outstanding
bonds and the interest accruing on the outstanding bonds to the date
of the call or retirement.