46A-1-56. Refunding bonds authorized for matured obligations.
The district may issue negotiable refunding bonds for the following purposes:
(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 1972, ch 241, §50; SDCL Supp, §46-17A-49; SL 2011, ch 165, §306.