Sec. 264.048.  REFUNDING BONDS.  (a)  The authority may issue bonds to refund outstanding bonds in the same manner that other bonds are issued under this chapter.
(b)  Bonds issued under this section may be exchanged by the comptroller or sold.  The proceeds shall be applied as provided by Subchapters B and C, Chapter 1207, Government Code, or other applicable law.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.257, eff. Sept. 1, 2001.