Sec. 9051.259. REFUNDING BONDS. (a) The board may issue refunding bonds without an election to refund outstanding bonds issued under this subchapter and interest on those bonds.
(b) Refunding bonds may be issued to refund bonds of more than one series.
(c) In the case of bonds secured wholly or partly by net revenue, the district may:
(1) combine the pledges for the outstanding bonds for the security of the refunding bonds; or
(2) secure the refunding bonds by a pledge of other or additional revenue.
(d) The provisions of this subchapter regarding the issuance of other bonds and the rights and remedies of the holders apply to refunding bonds.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
Text of section effective on April 01, 2017
Last modified: September 28, 2016