RS 1021 - Refunding bonds
The governing body of any political subdivision which has issued revenue bonds or other debt obligations under this Part or any other laws of the state may thereafter authorize the issuance of bonds or other debt obligations for the purpose of refunding such outstanding bonds or other debt obligations in accordance with the provisions hereof. The refunding bonds or other debt obligations may either be sold and the proceeds applied to the retirement of the outstanding bonds or other debt obligations, or may be delivered in exchange for the outstanding bonds or other debt obligations. The refunding bonds or other debt obligations shall be authorized in all respects and in the same manner as original revenue bonds are authorized to be issued under this Part, and although they may differ as to maturity, interest rate, and other details, may have the same security and enjoy the same sources of payment and rank of privilege as enjoyed by the bonds or other debt obligations refunded.
NOTE: §1021 as repealed by Acts 2018, No. 569, eff. July 1, 2021.
RS 1021 - Repealed by Acts 2018, No. 569, §2, eff. July 1, 2021.
Added by Acts 1977, No. 706, §1. Amended by Acts 1980, No. 251, §1, eff. July 12, 1980; Acts 2018, No. 569, §2, eff. July 1, 2021.