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Tex. Special District Local Laws Code § 1038.207

REFUNDING BONDS

Texas · Texas Special District Local Laws Code · Status: effective

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Tex. Special District Local Laws Code § 1038.207, REFUNDING BONDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/587016
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(a) The board may, without an election, issue refunding bonds to refund outstanding indebtedness issued or assumed by the district. (b) Refunding bonds may be: (1) sold, with the proceeds of the refunding bonds applied to the payment of the outstanding indebtedness; or (2) exchanged wholly or partly for not less than a similar principal amount of outstanding indebtedness. (c) A refunding bond must mature not later than the 40th anniversary of the date of issuance.