Texas Statutes
Subchapter E. Bonds
Section 1097.205. Refunding Bonds

Sec. 1097.205. REFUNDING BONDS. (a) The board may, without an election, issue refunding bonds to refund any bond or other refundable indebtedness issued or assumed by the district.
(b) A refunding bond may be:
(1) sold, with the proceeds of the refunding bond applied to the payment of the outstanding bonds or other refundable indebtedness; or
(2) exchanged wholly or partly for not less than a similar principal amount of the outstanding bonds or other refundable indebtedness.
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.

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