§70-23-121. Authority is authorized to issue refunding bonds.
160 words·~1 min read·
/ok/title-70-schools/70-23-121A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Authority is hereby authorized to provide by resolution for the issuance of revenue refunding bonds of the Authority for the purpose of refunding any bonds then outstanding which shall have been issued under the provisions of this article, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds. Each refunding issue shall be limited to the project in connection with which the bonds being refunded were issued, and revenues pledged to pay any such refunding issue shall be limited to the revenue derived from said separate project.
The issuance of such bonds, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties and obligations of the Authority in respect of the same shall be governed by the provisions of this article insofar as the same may be applicable. Added by Laws 1971, c. 281, § 23-121, eff. July 2, 1971.