App.A:4-56. Exchange of bonds; report
2. All bonds issued under this act may, without previous public offering, be exchanged for the notes or bonds to be funded or refunded thereby, whether due or to become due, and the interest due or accrued thereon, if the exchange be authorized by resolution adopted by vote of two-thirds of the members of the board of education. The officer making such exchange shall report the amounts and numbers of the notes or bonds so exchanged and the report shall be entered on the minutes of the board of education.
(L.1934, c. 185, s. 2, p. 453.)