Sec. 1074.204. 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 outstanding indebtedness; or
(2) exchanged wholly or partly for not less than a similar principal amount of the outstanding indebtedness.
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.
Section: Previous 1074.158 1074.159 1074.160 1074.161 1074.201 1074.202 1074.203 1074.204 1074.205 1074.206 1074.207 1074.208 1074.209 1074.210 1074.211 NextLast modified: September 28, 2016