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(a) The district may issue refunding bonds without an election.
(b) District bonds may be refunded by:
(1) the issuance and delivery to holders of refunding bonds in lieu of the outstanding bonds; or
(2) the sale of refunding bonds and the use of the proceeds for retiring the outstanding bonds. (Acts 51st Leg., R.S., Ch. 398, Sec. 5 (part).)
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 9023.157. Refunding bonds - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-9023-157.html
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