§ 2-2-48. Refunding bonds.

(a)

The county is hereby authorized to provide by proper proceedings for the issuance of refunding bonds for the purpose of refunding any bonds then outstanding at their redemption or maturity date issued under the provisions of this article or any other law for the purpose of paying all or a part of the cost of a project, as defined in this article. The county is further authorized to provide by proper proceedings for the issuance of bonds for the combined purposes of:

(1)

Paying the cost of acquiring by purchase or constructing a project; and

(2)

Refunding bonds of the county which shall have been issued for a project and shall then be outstanding at their redemption or maturity date.

(b)

The issuance of such refunding bonds, the maturities and other details thereof, the rights of the holders thereof, and the duties of the board and of the county in respect to the same, shall be governed by the foregoing provisions of this article insofar as the same may be applicable.

(Ord. No. 85-14, § 9, 5-28-85)