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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 59th Leg., R.S., Ch. 6, Sec. 6 (part).)
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 1113.206. Refunding Bonds - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-1113-206/
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