§13-2E-7. Authorization for issuance.
Refunding bonds and all acts required to be authorized
hereunder shall be authorized in the manner in which the bonds to
be refunded were authorized and issued: Provided, That refunding
bonds of a system resulting from the severance of a combined
municipal waterworks and sewerage system shall to the extent
applicable be authorized and issued under the terms and
provisions of law, including, but not limited to, interest rates
and net interest costs, under which revenue bonds of such
resulting system would be authorized and issued.