State Codes and Statutes

Statutes > California > Mvc > 1004.1-1004.4

MILITARY AND VETERANS CODE
SECTION 1004.1-1004.4



1004.1.  The department, subject to the approval of the Veterans'
Debenture Finance Committee, may provide for the issuance, sale, or
exchange of refunding debentures for the purpose of redeeming or
retiring any debentures issued under this chapter or any obligations
issued by the state to finance programs of the department. All
provisions of this chapter applicable to the issuance of debentures
are applicable to the funding or refunding debentures and to the
issuance, sale or exchange thereof. The department with the approval
of the Veterans' Debenture Finance Committee may adopt a resolution
or resolutions of issuance or supplemental resolutions authorizing
the issuance of refunding debentures and fixing the terms and
conditions thereof.



1004.2.  Refunding debentures may be issued in a principal amount
sufficient to provide funds for the payment of all debentures or
obligations to be refunded thereby and in addition to the payment of
all expenses incident to the calling, retiring or paying of
outstanding debentures or obligations and the issuance of refunding
debentures. Those expenses include any amount necessary to be made
available for the payment of interest upon refunding debentures from
the date of sale thereof to the date of payment of the debentures or
obligations to be refunded, or to the date upon which the debentures
or obligations to be refunded will be paid pursuant to the call
thereof or agreement with the holders thereof, and the premium, if
any, necessary to be paid in order to call or retire the outstanding
debentures or obligations and the interest accruing thereon to the
date of the call or retirement.



1004.3.  Refunding debentures shall not constitute a debt or
obligation of the State of California but shall be debentures of the
department of the same character and payable from the same funds as
other debentures authorized pursuant to this chapter. Any and all
reserve or other funds applicable to the payment of the debentures to
be refunded may, if so directed by the department, be transferred to
any reserve or other funds provided with respect to the refunding
debentures. The pledge of revenues to be received from contracts
entered into by the department with veterans shall not be lessened,
diminished, or affected in any way by the issuance of such refunding
debentures.


1004.4.  The department may from time to time or at any time sell or
exchange refunding debentures for the purpose of retiring, paying or
refunding either all or part of the outstanding debentures or
obligations, or of one or more series thereof, as it deems advisable.
Refunding debentures may be issued and delivered as outstanding
debentures or obligations to be refunded thereby, if the debentures
are mature or are about to mature or are subject to call or
redemption, or if the retirement thereof has been assured by consent
of the holders thereof. Refunding debentures may be delivered in
whole or in part in exchange for outstanding debentures or
obligations with the consent of the holders thereof.


State Codes and Statutes

Statutes > California > Mvc > 1004.1-1004.4

MILITARY AND VETERANS CODE
SECTION 1004.1-1004.4



1004.1.  The department, subject to the approval of the Veterans'
Debenture Finance Committee, may provide for the issuance, sale, or
exchange of refunding debentures for the purpose of redeeming or
retiring any debentures issued under this chapter or any obligations
issued by the state to finance programs of the department. All
provisions of this chapter applicable to the issuance of debentures
are applicable to the funding or refunding debentures and to the
issuance, sale or exchange thereof. The department with the approval
of the Veterans' Debenture Finance Committee may adopt a resolution
or resolutions of issuance or supplemental resolutions authorizing
the issuance of refunding debentures and fixing the terms and
conditions thereof.



1004.2.  Refunding debentures may be issued in a principal amount
sufficient to provide funds for the payment of all debentures or
obligations to be refunded thereby and in addition to the payment of
all expenses incident to the calling, retiring or paying of
outstanding debentures or obligations and the issuance of refunding
debentures. Those expenses include any amount necessary to be made
available for the payment of interest upon refunding debentures from
the date of sale thereof to the date of payment of the debentures or
obligations to be refunded, or to the date upon which the debentures
or obligations to be refunded will be paid pursuant to the call
thereof or agreement with the holders thereof, and the premium, if
any, necessary to be paid in order to call or retire the outstanding
debentures or obligations and the interest accruing thereon to the
date of the call or retirement.



1004.3.  Refunding debentures shall not constitute a debt or
obligation of the State of California but shall be debentures of the
department of the same character and payable from the same funds as
other debentures authorized pursuant to this chapter. Any and all
reserve or other funds applicable to the payment of the debentures to
be refunded may, if so directed by the department, be transferred to
any reserve or other funds provided with respect to the refunding
debentures. The pledge of revenues to be received from contracts
entered into by the department with veterans shall not be lessened,
diminished, or affected in any way by the issuance of such refunding
debentures.


1004.4.  The department may from time to time or at any time sell or
exchange refunding debentures for the purpose of retiring, paying or
refunding either all or part of the outstanding debentures or
obligations, or of one or more series thereof, as it deems advisable.
Refunding debentures may be issued and delivered as outstanding
debentures or obligations to be refunded thereby, if the debentures
are mature or are about to mature or are subject to call or
redemption, or if the retirement thereof has been assured by consent
of the holders thereof. Refunding debentures may be delivered in
whole or in part in exchange for outstanding debentures or
obligations with the consent of the holders thereof.



State Codes and Statutes

State Codes and Statutes

Statutes > California > Mvc > 1004.1-1004.4

MILITARY AND VETERANS CODE
SECTION 1004.1-1004.4



1004.1.  The department, subject to the approval of the Veterans'
Debenture Finance Committee, may provide for the issuance, sale, or
exchange of refunding debentures for the purpose of redeeming or
retiring any debentures issued under this chapter or any obligations
issued by the state to finance programs of the department. All
provisions of this chapter applicable to the issuance of debentures
are applicable to the funding or refunding debentures and to the
issuance, sale or exchange thereof. The department with the approval
of the Veterans' Debenture Finance Committee may adopt a resolution
or resolutions of issuance or supplemental resolutions authorizing
the issuance of refunding debentures and fixing the terms and
conditions thereof.



1004.2.  Refunding debentures may be issued in a principal amount
sufficient to provide funds for the payment of all debentures or
obligations to be refunded thereby and in addition to the payment of
all expenses incident to the calling, retiring or paying of
outstanding debentures or obligations and the issuance of refunding
debentures. Those expenses include any amount necessary to be made
available for the payment of interest upon refunding debentures from
the date of sale thereof to the date of payment of the debentures or
obligations to be refunded, or to the date upon which the debentures
or obligations to be refunded will be paid pursuant to the call
thereof or agreement with the holders thereof, and the premium, if
any, necessary to be paid in order to call or retire the outstanding
debentures or obligations and the interest accruing thereon to the
date of the call or retirement.



1004.3.  Refunding debentures shall not constitute a debt or
obligation of the State of California but shall be debentures of the
department of the same character and payable from the same funds as
other debentures authorized pursuant to this chapter. Any and all
reserve or other funds applicable to the payment of the debentures to
be refunded may, if so directed by the department, be transferred to
any reserve or other funds provided with respect to the refunding
debentures. The pledge of revenues to be received from contracts
entered into by the department with veterans shall not be lessened,
diminished, or affected in any way by the issuance of such refunding
debentures.


1004.4.  The department may from time to time or at any time sell or
exchange refunding debentures for the purpose of retiring, paying or
refunding either all or part of the outstanding debentures or
obligations, or of one or more series thereof, as it deems advisable.
Refunding debentures may be issued and delivered as outstanding
debentures or obligations to be refunded thereby, if the debentures
are mature or are about to mature or are subject to call or
redemption, or if the retirement thereof has been assured by consent
of the holders thereof. Refunding debentures may be delivered in
whole or in part in exchange for outstanding debentures or
obligations with the consent of the holders thereof.