Refunding bonds authorized for matured obligations

The district may issue negotiable refunding bonds for the following purposes: (1) To refund unpaid matured bonds; (2) To refund unpaid matured coupons evidencing interest upon its unpaid matured bonds; and (3) To refund interest at the coupon rate upon its unpaid matured bonds that has accrued since the maturity of those bonds. Source: SL 1972, ch 241 , § 50; SDCL Supp, § 46-17A-49; SL 2011, ch 165 , § 306.