Sec. 1432.013. REFUNDING BONDS. (a) A local government may refund or otherwise refinance bonds issued under this chapter by issuing refunding bonds under any terms provided by a bond authorization.
(b) All appropriate provisions of this chapter apply to the refunding bonds. The refunding bonds shall be issued in the manner provided by this chapter for other bonds.
(c) The refunding bonds may be sold and delivered in amounts sufficient to pay the principal of and interest and any redemption premium on the bonds to be refunded, at maturity or on any redemption date.
(d) The refunding bonds may be issued to be exchanged for the bonds to be refunded by them. In that case, the comptroller shall register the refunding bonds and deliver them to the holder of the bonds to be refunded as provided by the bond authorization. The exchange may be made in one delivery or in installment deliveries.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities
Chapter 1432 - Bonds for Local Government Sports Centers
Section 1432.001. Applicability of Chapter
Section 1432.003. Authority for Sports Centers
Section 1432.004. Authority to Issue Revenue Bonds
Section 1432.005. Pledge of Revenue
Section 1432.006. Additional Security
Section 1432.007. Bonds Not Payable From Taxes
Section 1432.009. Additional Bonds
Section 1432.010. Sale of Bonds
Section 1432.011. Review and Approval of Contracts Relating to Bonds
Section 1432.013. Refunding Bonds