Sec. 1114.206. REFUNDING BONDS. (a) District refunding bonds may be issued to refund outstanding bonded indebtedness of the district.
(b) A refunding bond may be:
(1) sold, with the proceeds of the refunding bond applied to the payment of outstanding bonded indebtedness; or
(2) exchanged wholly or partly for not less than a similar principal amount of outstanding indebtedness.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.
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