Refunding bonds authorized--Purposes

The Building Authority may issue negotiable refunding bonds to refund: (1) Unpaid matured bonds; (2) Unpaid matured coupons evidencing interest upon its unpaid matured bonds; and (3) Interest at the coupon rate upon its unpaid matured bonds that has accrued since the maturity of these bonds. Source: SL 1975, ch 50 , § 1.