Section 14-217-113 - Refunding bonds

Bonds may be issued for the purpose of refunding any bonds issued under this chapter. Refunding bonds may be either sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may be either applied to payment of the bonds being refunded or deposited in trust and applied as provided by § 19-9-301.Acts 1975, No. 490, § 11; A.S.A. 1947, § 20-1911.