Refunding Bonds

Sec. 1005.208. REFUNDING BONDS. (a) The board may issue refunding bonds to refund outstanding indebtedness 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 similar principal amount of outstanding indebtedness. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007. SUBCHAPTER F. AD VALOREM TAX