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Texas Special District Local Laws Code

§ 1009.205 — REFUNDING BONDS

SD § 1009.205Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1009. COCHRAN MEMORIAL HOSPITAL DISTRICT · Art. E. BONDS

Statute text

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(a)The board may, without an election, issue refunding bonds to refund outstanding general obligation bonds issued or assumed by the district.
(b)A refunding bond may be:
(1)sold, with the proceeds of the refunding bond applied to the payment of the bonds to be refunded; or
(2)exchanged in whole or in part for not less than a like principal amount of the bonds to be refunded.
(c)If a refunding bond is sold, the bond must be issued and the payments must be made in the manner provided by Subchapters B and C, Chapter 1207, Government Code.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.

Source: Texas Special District Local Laws Code § 1009.205 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.