§ 101149 Bond Refunding Authorization
This law lets the state replace old bonds with new ones, and the voters who approved the original bonds also gave permission for any replacement bonds.
The state sold bonds to build a new highway. A few years later, interest rates drop, so the state wants to swap those old bonds for new, cheaper ones.
Because the voters already approved the original highway bonds, they also approved the new bonds that replace the old ones, so the swap can happen under this law.
AI-generated — May contain errors. Not legal advice. Always verify source.
§ 101149 Bond Refunding Authorization
Last verified: January 10, 2026