Sec. 1036.205. REFUNDING BONDS

Latest version.

(a) The board may issue refunding bonds to refund an outstanding indebtedness issued or assumed by the district.
(b) Refunding bonds may be:
(1) sold, with the proceeds of the refunding bonds applied to the payment of the outstanding indebtedness; or
(2) exchanged wholly or partly for not less than a similar principal amount of outstanding indebtedness.

Added by Acts 2007, 80th Leg., R.S., Ch. 920 , Sec. 1.02, eff. April 1, 2009.

                    
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