Texas Special District Local Laws Code § 1105.205 Refunding Bonds

Sec. 1105.205. REFUNDING BONDS. (a) District bonds may be issued without an election to refund any bonds 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 bonds; or

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

Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.

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Last modified: September 28, 2016