1. (a) The commission may provide by resolution for the issuance of park revenue refunding bonds of the state payable solely from revenues for the following:

   1. (1) The purpose of refunding bonds then outstanding that have been issued under this chapter or under IC 14-3-12 (before its repeal), including the payment of redemption premium and interest accrued or to accrue to the date of redemption of the bonds.
   2. (2) If considered advisable by the commission, for the additional purpose of constructing improvements, extensions, or enlargements of a park project in connection with which the bonds to be refunded have been issued.

2. (b) The:

   1. (1) issuance of the bonds;
   2. (2) maturities and other details;
   3. (3) rights of the holders; and

   4. (4) rights, duties, and obligations of the commission concerning the bonds;

      are governed by this chapter.

      [Pre-1995 Recodification Citation: 14-3-12-14.]

As added by P.L.1-1995, SEC.7.