(a) Bonds may be issued for the purpose of refunding any bonds issued under this chapter. Refunding bonds may be combined with bonds issued under the provisions of ยงยง 14-202-108 -- 14-202-115 into a single issue.
(b) When refunding bonds are issued, they may either be sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may be either applied to the payment of the bonds being refunded or deposited in escrow for the retirement thereof.
(c) All refunding bonds shall in all respects be issued and secured in the manner provided for other bonds issued under this chapter and shall have all the attributes of those bonds.
(d) The ordinance under which the refunding bonds are issued may provide that any of the refunding bonds shall have the same priority of lien on and security interest in electric system revenues and the electric system as was enjoyed by the bonds refunded thereby.
Section: Previous 14-202-110 14-202-111 14-202-112 14-202-113 14-202-114 14-202-115 14-202-116 14-202-117 14-202-118 14-202-119 14-202-120 14-202-121 14-202-122 14-202-123 NextLast modified: November 15, 2016