Add to ORKGAssembly Constitutional Amendment 16. Ratifies District Finance Act of 1933. Authorizes $55,000,000 State bonds to refinance irrigation and reclamation districts by purchasing and canceling their outstanding bonds when recommended by California Districts Securities Commission. State receiving therefor districts\u27 refunding bonds coinciding as nearly as practicable in maturity dates and amounts with State bonds issued; permits State to resell refunding bonds; prohibits district issuing additional bonds without Commission\u27s consent while refunding bonds outstanding; empowers Commission to levy district assessments to pay refunding bonds should district not levy same