(a) Subject to the prior approval of the Board of Public Works, the Authority may
issue bonds to refund any of its outstanding bonds, including the payment of:
(1) any redemption premium; and
(2) any interest accrued or that will accrue to the earliest or any subsequent date
of redemption, purchase, or maturity of the bonds.
(b)(1) For the public purpose of achieving a savings in the effective costs of debt
service or alleviating impending or actual default, the Authority may issue refunding
bonds directly or through a debt restructuring.
(2) The bonds authorized by this subsection may be issued in one or more series and
in an amount in excess of that of the bonds to be refunded.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.