As Amended
SEC. 49-17-187. Refunding bonds.
The district may issue refunding bonds for the purpose of paying any of its bonds at or prior to maturity or upon acceleration or redemption. Refunding bonds may be issued at such time prior to the maturity or redemption of the refunded bonds as the district deems to be in the public interest. The refunding bonds may be issued in sufficient amounts to pay or provide the principal of the bonds being refunded, together with any redemption premium thereon, any interest accrued or to accrue to the date of payment of such bonds, the expenses of issue of the refunding bonds, the expenses of redeeming the bonds being refunded, and such reserves for debt service or other capital or current expenses from the proceeds of such refunding bonds as may be required by the resolution, trust indenture or other security instruments. The issue of refunding bonds, the maturities and other details thereof, the security therefor, the rights of the holders and the rights, duties and obligations of the district in respect of the same shall be governed by the provisions of sections 49-17-161 through 49-17-209 relating to the issue of bonds other than refunding bonds insofar as the same may be applicable.
SOURCES: Laws, 1980, ch. 519, Sec. 14, eff from and after passage (approved May 20, 1980).