Power to issue refunding bonds for matured obligations.

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13-51A-33. Power to issue refunding bonds for matured obligations.

The board shall have power, and is hereby authorized from time to time, to issue negotiable refunding bonds:

(1)To refund unpaid matured bonds;

(2)To refund unpaid matured coupons evidencing interest upon its unpaid matured bonds; and

(3)To refund interest at the coupon rate upon its unpaid matured bonds that has accrued since the maturity of those bonds.

Source: SL 1971, ch 134, §4 (B).


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