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

(a)

The board may, without an election, issue refunding bonds to refund outstanding general obligation bonds 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 bonds to be refunded; or

(2)

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

(c)

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 May 4, 2024).

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Accessed:
May 4, 2024

§ 1009.205’s source at texas​.gov