In determining the amount of refunding bonds to be issued, the local agency may include all costs of issuing the refunding bonds and of refunding the bonds to be refunded, including the amount of any premium required to be paid to redeem any of the bonds to be refunded, any capitalized interest or bond reserve funds which the local agency determines to be reasonably required, and the cost of any insurance or other credit enhancement authorized by Section 53585.

(Added by Stats. 1985, Ch. 1033, Sec. 17. Effective September 27, 1985.)

Terms Used In California Government Code 53587

  • bonds: as used in this article means: bonds as defined in Section 53550, or revenue bonds as defined in Section 53570. See California Government Code 53580
  • local agency: means public district, public corporation, authority, agency, board, commission, county, city and county, city, school district, or other public entity or any improvement district or zone thereof. See California Government Code 53580
  • refunding bonds: means bonds issued to refund bonds. See California Government Code 53580
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