Section 13. The commission may issue refunding bonds for the purpose of paying any of its bonds at maturity or upon acceleration or redemption. Refunding bonds may be issued at such time prior to the maturity or redemption of the refunded bonds as the commission deems to be in the public interest. Refunding bonds may be issued in sufficient amounts to pay or provide the principal of the bonds being refunded, together with any redemption premium thereon, any interest accrued or to accrue to the date of payment of such bonds, the expenses of issue of refunding bonds, the expenses of redeeming bonds being refunded and such reserves for debt service or other capital or current expenses from the proceeds of such refunding bonds as may be required by a trust agreement or resolution securing bonds. The issue of refunding bonds, the maturities and other details thereof, the security therefor, the rights of the holders thereof, and the rights, duties and obligations of the commission in respect of the same shall be governed by the provisions of this chapter relating to the issue of bonds other than refunding bonds insofar as the same may be applicable.
Structure Massachusetts General Laws
Part I - Administration of the Government
Title VII - Cities, Towns and Districts
Chapter 40n - Model Water and Sewer Commission
Section 4 - Municipal Water and Sewer Commissions; Creation; Members
Section 5 - Executive Director; Officers
Section 7 - Employees; Transfer
Section 9 - Additional Powers and Limitations
Section 10 - Issuance of Notes; Collection and Enforcement Powers
Section 11 - Issuance of Bonds; Temporary Notes
Section 14 - Payment of Bonds From Bond Proceeds; Liability
Section 15 - Moneys Received Deemed to Be Trust Funds
Section 16 - Bonds Eligible for Investment
Section 17 - Bonds Deemed to Be Investment Securities
Section 18 - Bonds Issued Without Consent of Other Entities
Section 20 - Records; Reports; Inspection
Section 21 - Termination or Dissolution of Commission
Section 22 - Inconsistent Laws or Ordinances Inoperative
Section 23 - Provisions of Act Controlling
Section 24 - Construction of Act
Section 25 - Regional Water and Sewer District Commissions; Formation
Section 26 - Construction of Act; Constitutional Requirements