(a) The board may issue refunding bonds to refund any outstanding indebtedness issued or assumed by the district.(b) A refunding bond may be sold, with the proceeds of the refunding bond applied to the payment of outstanding indebtedness. Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.
Texas Legal Code