Sec. 1051.207. REFUNDING BONDS. (a) The board may, without an election, issue refunding bonds to refund outstanding indebtedness issued or assumed 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 indebtedness; or
(2) exchanged wholly or partly for not less than a similar principal amount of outstanding indebtedness.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Section: Previous 1051.157 1051.158 1051.159 1051.160 1051.201 1051.202 1051.203 1051.204 1051.205 1051.206 1051.207 1051.208 1051.251 1051.252 1051.253 NextLast modified: September 28, 2016