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).