§31-15B-9. Refunding bonds.
Any infrastructure general obligation bonds which are
outstanding may at any time be refunded by the issuance of
refunding bonds in an amount deemed necessary to refund the
principal of the bonds to be refunded, together with any unpaid
interest thereon; to accomplish the purpose of this article and
article fifteen-a of this chapter; and to pay any premiums and
commissions necessary to be paid in connection therewith. Any
refunding may be effected whether the infrastructure general
obligation bonds to be refunded shall have then matured or shall
thereafter mature. Any refunding bonds issued pursuant to this
article shall be payable from the infrastructure general obligation
bond debt service fund, and shall be subject to the provisions
contained in section eleven, article fifteen-a of this chapter and
shall be secured in accordance with the provisions of this article.