Texas Special District Local Laws Code § 1083.205 Refunding Bonds

Sec. 1083.205. REFUNDING BONDS. (a) The board may, without an election, issue refunding bonds to refund any bonds issued 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 bonds; or

(2) exchanged wholly or partly for not less than a similar principal amount of the outstanding bonds.

Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.

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Last modified: September 28, 2016