| 7.__Refunding bonds.__The jail authority formed under this |
chapter by resolution of its board of directors without |
consent of either county may issue refunding bonds for the |
purpose of paying any of its bonds at maturity or upon |
acceleration of maturity or redemption of those bonds. The |
refunding bonds may be issued at such time prior to the |
maturity or redemption of the refunded bonds as the board of |
directors determines to be in the public interest.__The |
refunding bonds may be issued in sufficient amounts to pay or |
provide the principal of the bonds being refunded, together |
with any redemption premium on the bonds, any interest accrued |
or to accrue to the date of payment of those bonds, the |
expenses of issuance of the refunding bonds, the expenses of |
redeeming the bonds being refunded and such reserves for debt |
service or other capital or current expenses from the proceeds |
of the refunding bonds as may be required by the trust |
agreement or resolution securing bonds.__The issuance of |
refunding bonds, the maturities and other details of the |
issuance of refunding bonds, the security for the issuance of |
refunding bonds, the rights of the holders of the issuance of |
refunding bonds and the rights, duties and obligations of the |
jail authority in respect of the same is governed by the |
applicable provisions of this chapter relating to the issuance |
of bonds. |