39.53.040 - What bonds may be refunded -- Refunding plans -- Redemption of refunding bonds.

What bonds may be refunded — Refunding plans — Redemption of refunding bonds.

Bonds may be refunded under this chapter or under any other law of this state which authorizes the issuance of refunding bonds. In any refunding plan under this chapter the governing body shall provide irrevocably in the ordinance authorizing the issuance of the advance refunding bonds for the redemption or payment of the bonds to be refunded.

     The ordinance authorizing the issuance of refunding bonds under this chapter may contain such provisions for the redemption of the refunding bonds prior to maturity and for payment of a premium upon such redemption as the governing body in its discretion may determine advisable.

[1999 c 230 § 4; 1977 ex.s. c 262 § 2; 1973 1st ex.s. c 25 § 3; 1965 ex.s. c 138 § 5.]

Notes: Application -- Construction -- Severability -- 1999 c 230: See notes following RCW 39.53.010.