If a board finds that a refunding of outstanding bonds would:

1. (1) be of benefit to the health and welfare of the district; and

2. (2) comply with the purposes and provisions of this article;

   the board may authorize the issuance of bonds under IC 5-1-5 to refund outstanding bonds issued in accordance with this article or IC 13-9.5-9 (before its repeal).

   [Pre-1996 Recodification Citation: 13-9.5-9-6.]

As added by P.L.1-1996, SEC.11.