Section 9-937 - Refunding bonds; joint cost and refunding bonds.

§ 9-937. Refunding bonds; joint cost and refunding bonds.
 

By resolution of its board of directors, an authority may provide for the issuance of: 

(1) Refunding bonds to refund any bonds of the authority that were issued under this subtitle and are outstanding; or 

(2) A single issue of bonds to: 

(i) Pay the cost of a project or of the improvement, extension, or reconstruction of or additions to a project; and 

(ii) Refund bonds that: 

1. Were issued under this subtitle and are outstanding; and 

2. Have matured, are subject to redemption, or can be retired. 
 

[1985, ch. 173, § 2.]