5-12-27.1. Refunding bonds authorized--Purposes.
46 words·~1 min read·
/sd/title-5/chapter-5-12/5-12-27-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Building Authority may issue negotiable refunding bonds to refund:
(1)Unpaid matured bonds;
(2)Unpaid matured coupons evidencing interest upon its unpaid matured bonds; and
(3)Interest at the coupon rate upon its unpaid matured bonds that has accrued since the maturity of these bonds.