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(a) District refunding bonds may be issued without an election and in the manner provided by this subchapter to refund outstanding bonds issued by the district.
(b) A refunding bond may be:
(1) sold, with the proceeds of the refunding bond applied to the payment of the outstanding bonds; or
(2) exchanged wholly or partly for not less than a similar amount of the outstanding bonds and the unpaid matured interest on those bonds. (Acts 60th Leg., R.S., Ch. 38, Secs. 6(a) (part), (b) (part).)
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 1011.206. Refunding Bonds - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-1011-206/
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