Section 19-9-305 - Conversion privilege

The refunding bonds may be issued with the privilege of conversion to a lower rate or rates of interest if the issuer receives no less and pays no more than it would receive or pay if the bonds were not converted. The conversion shall be subject to the approval of the issuer.Acts 1961, No. 449, § 2; A.S.A. 1947, § 13-1104.