Refunding bonds, authority to issue, when — funding for payment of principal and interest.

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5. Refunding bonds, authority to issue, when — funding for payment of principal and interest.

Effective - 28 Aug 1990

184.620. Refunding bonds, authority to issue, when — funding for payment of principal and interest. — For the purpose of refunding, extending or unifying the whole or any part of its valid bonded indebtedness, the district may issue refunding bonds not exceeding an amount of the principal of the outstanding indebtedness to be refunded and the accrued interest to the date of such refunding bonds. The board shall provide for the payment of interest and principal of such refunding bonds in the same manner as was provided for the payment of interest and principal of the bonds refunded.

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(L. 1990 S.B. 525 § 9)

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