Sec. 8284.203. REFUNDING BONDS. (a) By order or resolution adopted by the board, the district may issue tax or revenue refunding bonds or tax-revenue refunding bonds to refund revenue bonds or tax-revenue bonds, whether original bonds or refunding bonds, previously issued by the district.
(b) The comptroller shall register the refunding bonds on the surrender and cancellation of the bonds to be refunded.
(c) Instead of issuing bonds to be registered on the surrender and cancellation of the bonds to be refunded, the district, in the order or resolution authorizing the issuance of the refunding bonds, may provide for the sale of the refunding bonds and the deposit of the proceeds in the place or places where the bonds to be refunded are payable. In that case, the refunding bonds may be issued if an amount sufficient to pay the principal of and interest on the bonds to be refunded to their maturity dates, or to their option dates if according to their terms the bonds have been called for payment before maturity, has been deposited in the place or places where the bonds to be refunded are payable, and the comptroller shall register the refunding bonds without the surrender and cancellation of the bonds to be refunded.
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.04, eff. April 1, 2011.
Section: Previous 8284.054 8284.055 8284.101 8284.102 8284.103 8284.104 8284.105 8284.151 8284.152 8284.153 8284.154 8284.155 8284.156 8284.201 8284.202Last modified: September 28, 2016