Tex. Spec. Dist. Local Laws Code Section 1009.205
Refunding Bonds


The board may, without an election, issue refunding bonds to refund outstanding general obligation bonds issued or assumed by the district.


A refunding bond may be:


sold, with the proceeds of the refunding bond applied to the payment of the bonds to be refunded; or


exchanged in whole or in part for not less than a like principal amount of the bonds to be refunded.


If a refunding bond is sold, the bond must be issued and the payments must be made in the manner provided by Subchapters B and C, Chapter 1207 (Refunding Bonds), Government Code.
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.

Source: Section 1009.205 — Refunding Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1009.­htm#1009.­205 (accessed Jun. 5, 2024).

Jun. 5, 2024

§ 1009.205’s source at texas​.gov