Texas Special District Local Laws Code - Section 1001.360. Refunding Bonds
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§ 1001.360. REFUNDING BONDS. (a) The board may, without
an election, issue refunding bonds to refund outstanding general
obligation bonds issued or assumed by the district.
(b) Refunding bonds may be:
(1) sold, with the proceeds of the refunding bonds
applied to the payment of the bonds to be refunded; or
(2) exchanged in whole or in part for not less than a
like amount of bonds to be refunded and the matured but unpaid
interest on those bonds.
(c) The refunding bonds must mature not later than 40 years
after the date of issuance.
Added by Acts 2005, 79th Leg., ch. 729, § 1.01, eff. April 1,
2007.
Section: 1001.353 1001.354 1001.355 1001.356 1001.357 1001.358 1001.359 1001.360 1001.361 1001.401 1001.402 1001.403 1001.404 1001.405 1002.001
Last modified: August 10, 2007
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