31-27-11 - Security for refunding bonds.
§ 31-27-11. Security for refunding bonds.
Refunding bonds may be secured by a pledge of: (a) the same source of security as the bonds to be refunded, or (b) such other security as the governing body of the governmental unit may lawfully pledge, or both; all as may be provided by resolution of the governing body of the governmental unit.
Sources: Laws, 1987, ch. 429, § 6, eff from and after passage (approved March 30, 1987).