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Texas Special District Local Laws Code - SDLL § 1047.204. Refunding Bonds

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The board may issue refunding bonds to refund outstanding bonds issued by the district with the consent of the holders of the bonds to be refunded.

(b) Before issuing refunding bonds, any sum to the credit of any sinking fund account on hand shall be:

(1) deducted in determining the amount of refunding bonds to be issued; and

(2) applied to the payment of the outstanding bonds.

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Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 1047.204. Refunding Bonds - last updated January 01, 2024 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-1047-204/

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