SECTIONS 9050 - California Statutes

STREETS AND HIGHWAYS CODE

SECTION 9050

9050. Whenever any principal or interest of any issue of bonds
issued under the "Improvement Bond Act of 1915" is past due and
unpaid because of delinquency in the payment of assessments, the
legislative body of the city in which the property assessed lies may
determine by resolution that the public interest or necessity
requires the refunding of such issue of bonds, and declare its
intention to refund the bonds.