Texas Statutes
Subchapter E. Bonds
Section 1036.205. Refunding Bonds

Sec. 1036.205. REFUNDING BONDS. (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 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

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