California § 53363.5 - Any refunding bonds issued pursuant to this article may be exchanged for the bond
Full text of California Public Contract Code - PCC § 53363.5 — Any refunding bonds issued pursuant to this article may be exchanged for the bond, with citation guidance and answers to common questions.
§ 53363.5. Any refunding bonds issued pursuant to this article may be exchanged for the bond
Any refunding bonds issued pursuant to this article may be exchanged for the bonds to be refunded on such basis as the legislative body determines is for the benefit of the district, but shall be issued in compliance with Section 53362.5. As an alternative to exchanging the refunding bonds for the bonds to be refunded, the legislative body may sell the refunding bonds at public or private sale. The proceeds of any sale of refunding bonds for cash shall be placed in the treasury of the local agency to the credit of a fund to be established for the purpose of refunding the bonds to be refunded, which fund shall be designated the ârefunding fund,â and the proceeds of the sale shall be applied only as permitted by this article. The funds shall be secured and may be invested in accordance with any other laws applicable to the funds of the local agency.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 53363.5
What does Public Contract Code - PCC § 53363.5 cover?
Section 53363.5 ("Any refunding bonds issued pursuant to this article may be exchanged for the bond") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 53363.5?
A common citation format is "Public Contract Code - PCC § 53363.5" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 53363.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.