- (1) The board may, without authorization from the electors, issue refunding bonds for the purpose of refunding outstanding bonds issued under ORS 450.895 to 450.920.
- (2) The provisions of ORS 287A.360 to 287A.380 are applicable to refunding bonds issued and sold under this section.
- (3) The refunding bonds may be issued to refund bonds originally issued or to refund bonds previously issued for refunding purposes and for no other purpose.
[1955 c.614 §47; 2007 c.783 §189]