Section 1117.255 - Refunding Bonds(a) The district may, without an election, issue refunding bonds to refund any bond or other refundable indebtedness issued or assumed by the district.(b) A refunding bond may be: (1) sold, with the proceeds of the refunding bond applied to the payment of the outstanding bonds or other refundable indebtedness; or(2) exchanged wholly or partly for not less than a similar principal amount of the outstanding bonds or other refundable indebtedness.Tex. Spec. Dist. Loc. Laws § 1117.255
Added by Acts 2013, 83rd Leg. - Regular Session, ch. 112,Sec. 1.01, eff. 4/1/2015.