Sec. 1005.208. REFUNDING BONDS. (a) The board may issue refunding bonds to refund 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 bonds to be refunded; or
(2) exchanged in whole or in part for not less than a similar principal amount of outstanding indebtedness.
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.
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