Section 1011.206 - Refunding Bonds(a) District refunding bonds may be issued without an election and in the manner provided by this subchapter to refund outstanding bonds issued 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(2) exchanged wholly or partly for not less than a similar amount of the outstanding bonds and the unpaid matured interest on those bonds.Tex. Spec. Dist. Loc. Laws § 1011.206
Added by Acts 2011, 82nd Leg., R.S., Ch. 70, Sec. 1.01, eff. 4/1/2013.