Texas Statutes
Subchapter F. Bonds
Section 1117.255. Refunding Bonds

Sec. 1117.255. REFUNDING BONDS. (a) The district 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 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.

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