§599.29. Refunding bonds
A.(1) An authority may issue bonds to refund outstanding bonds of the authority,
including paying:
(a) Any redemption premium.
(b) Interest accrued or to accrue to the date of redemption, purchase, or maturity of
the bonds.
(c) Any part of the cost of acquiring or improving property as part of a project.
(2) Refunding bonds may be issued for any corporate purpose, including:
(a) Realizing savings in the effective costs of debt service, directly or through a debt
restructuring.
(b) Alleviating a potential or actual default.
B. Refunding bonds issued under this Section shall be issued in the same manner and
are subject to this Part to the same extent as any other bond.
C. An authority may issue refunding bonds in one or more series in an amount greater
than the amount of the bonds to be refunded.
Acts 2025, No. 443, §1.