Section 1107.204 - Refunding Bonds(a) District refunding bonds may be issued without an election and in the manner provided by this subchapter to refund outstanding 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 outstanding bonds; or(2) exchanged wholly or partly for not less than a similar amount of outstanding bonds and the unpaid matured interest on the bonds.Tex. Spec. Dist. Loc. Laws § 1107.204
Added by Acts 2013, 83rd Leg. - Regular Session, ch. 112,Sec. 1.01, eff. 4/1/2015.