REFUNDING BONDS.
Tex. SPEC. DIST. LOCAL LAWS Code § 1008.257.
in effect(a) The board may, without an election, issue refunding bonds to refund outstanding bonds issued or assumed by the district.
(b) A refunding bond may be:
(1) sold, with the proceeds of the refunding bonds applied to the payment of the bonds to be refunded; or
(2) exchanged in whole or in part for not less than a similar principal amount of outstanding indebtedness.
(c) If a refunding bond is sold, the bond must be issued and the payments must be made in the manner provided by Chapter 1207 , Government Code.
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019 ), Sec. 1.01, eff. April 1, 2007.