Sec. 293.055.  REFUNDING BONDS.  (a)  The authority may issue bonds for the purpose of refunding outstanding bonds.  Refunding bonds may be issued in the manner provided by this chapter for the issuance of other bonds, except that an election is not required.
(b)  The comptroller may exchange the refunding bonds for the outstanding bonds or the authority may sell the refunding bonds and apply the proceeds according to Subchapter B or C, Chapter 1207, Government Code.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.309, eff. Sept. 1, 2001.