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It is hereby declared to be the policy of the City to permit the refunding of outstanding general obligation bonds, revenue bonds and lease obligations of the City whenever such refunding shall result in net debt service savings to the City pursuant to the procedure set forth in this Article as well as by any other method permitted by law or other ordinance of the Board. This Article is enacted pursuant to the powers reserved to the City under Sections 3, 5 and 7 of Article XI of the Constitution of the State of California and Sections 9.106, 9.108 and 9.109 of the Charter.
(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)