(a) The district may issue refunding bonds without an election.(b) District bonds may be refunded by:(1) the issuance and delivery to holders of refunding bonds in lieu of the outstanding bonds; or(2) the sale of refunding bonds and the use of the proceeds for retiring the outstanding bonds. Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
Texas Legal Code