§ 5-1-4-16 — Refunding bonds

An Authority is hereby authorized to provide
by resolution for the issuance of refunding bonds for the purpose of
refunding any bonds then outstanding which shall have been issued by
it under the provisions of this chapter, including the payment of any
redemption premium thereon and any interest accrued or to accrue to
the date of redemption of such bonds, and, if deemed advisable by such
Authority, for the additional purpose of constructing improvements,
extensions or enlargements of the project in connection with which the
bonds to be refunded shall have been issued. Such refunding bonds
shall be payable solely out of the revenues of the project (including any
such improvements, extensions or enlargements thereto) to which the
bonds being refunded relate. 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 chapter insofar as the same may be
applicable.
Formerly: Acts 1971, P.L.41, SEC.1; Acts 1972, P.L.10,
SEC.1.