Section 31-27-11 - Security for refunding bonds

Refunding bonds may be secured by a pledge of: (a) the same source of security as the bonds to be refunded, or (b) such other security as the governing body of the governmental unit may lawfully pledge, or both; all as may be provided by resolution of the governing body of the governmental unit.Laws, 1987, ch. 429, § 6, eff. 3/30/1987.