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Texas Special District Local Laws Code

§ 1039.205 — REFUNDING BONDS

SD § 1039.205Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1039. HEMPHILL COUNTY HOSPITAL DISTRICT · Art. E. BONDS

Statute text

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(a)The board may, without an election, issue refunding bonds payable from taxes or revenue to refund outstanding indebtedness issued, incurred, or assumed by the district.
(b)A refunding bond may be:
(1)sold, with the proceeds of the refunding bonds applied to the payment of the indebtedness to be refunded; or
(2)exchanged wholly or partly for not less than the principal amount of outstanding indebtedness.

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Source: Texas Special District Local Laws Code § 1039.205 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.