46A-1-56. Refunding bonds authorized for matured obligations.
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/sd/title-46/chapter-46-1/46a-1-56A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.