Statutes > Arkansas Statutes > Title 14 - Local Government > Subtitle 13 - Public Utility Improvement Districts > Chapter 217 - General Consolidated Public Utility System Improvement Districts > § 14-217-113 - Refunding bonds.

§ 14-217-113 - Refunding bonds.

14-217-113. Refunding bonds.

Bonds may be issued for the purpose of refunding any bonds issued under this chapter. Refunding bonds may be either sold or delivered in exchange for the bonds being refunded. If sold, the proceeds may be either applied to payment of the bonds being refunded or deposited in trust and applied as provided by 19-9-301.