Section 36-7-15.3-9 - Refunding of bonds(a) Bonds issued under IC 36-7-15.1 may be refunded as provided in this section.(b) The commission may: (1) lease all or a portion of a local public improvement or improvements to the authority, which may be at a nominal lease rental with a lease back to the commission, conditioned upon the authority assuming bonds issued under IC 36-7-15.1 and issuing its bonds to refund those bonds; and(2) sell all or a portion of a local public improvement or improvements to the authority for a price sufficient to provide for the refunding of those bonds and lease back the local public improvement or improvements from the authority.As added by P.L. 84-1987, SEC.14.