BondsCallable Bonds

Section § 31460

Explanation

This law section states that bonds issued by the district can be redeemed or paid off before they are due, based on terms and prices decided by the board.

Any bonds issued by the district may be subject to call and redemption prior to maturity at such times and prices and upon such other terms as the board may specify.
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Section § 31461

Explanation
If bonds can be paid off early, this option must be clearly indicated on the bond itself.
When bonds are made callable, a statement to that effect shall be set forth on the face of the bond.
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