Tex. Special District Local Laws Code § 1001.360
This is the official text of Tex. Special District Local Laws Code § 1001.360, part of Texas’s Special District Local Laws Code — consolidates the individual laws creating Texas's special-purpose local government districts.
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§ 1001.360. REFUNDING BONDS.
Official statutory text
(a) The board may, without an election, issue refunding bonds to refund outstanding general obligation bonds issued or assumed by the district.
(b) Refunding bonds 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 like amount of bonds to be refunded and the matured but unpaid interest on those bonds.
(c) The refunding bonds must mature not later than 40 years after the date of issuance.
(b) Refunding bonds 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 like amount of bonds to be refunded and the matured but unpaid interest on those bonds.
(c) The refunding bonds must mature not later than 40 years after the date of issuance.
Status: in_force · Read it on the official government site
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