Bonds issued under this subpart may be exchanged for not less than an equal principal amount and accrued interest, if any, of indebtedness to be retired thereby, including indebtedness not yet due, if such indebtedness is then redeemable or if the holder thereof is willing to surrender the indebtedness for retirement, but otherwise shall be sold and the proceeds thereof shall be applied to the payment of such schoolhouse bonded indebtedness or accrued interest due or redeemable which may be so surrendered.
Section: Previous 20-2-464 20-2-465 20-2-466 20-2-467 20-2-468 20-2-469 20-2-470 20-2-471 20-2-472 20-2-473 20-2-474 20-2-475 20-2-476 20-2-477 NextLast modified: October 14, 2016