This law allows the board to decide, through a formal resolution, to refinance all or part of a bond issue at lower interest rates if they believe it benefits the landowners who are responsible for paying the assessment.

This law allows for the issuance of refunding bonds. These bonds can be used to pay off existing bonds either when they are due or by calling and redeeming them earlier as specified in this part of the law.

This law explains how refunding bonds should be ordered. It says that a resolution must specify which bonds are being refunded, including their numbers, values, maturity dates, and total amounts. It also describes what the new refunding bonds should look like, including their interest rate, which must be lower than the interest rate of the original bonds being refunded.

This law states that refunding bonds must have a set schedule for repayment in portions determined by the board's decision.

This law section states that the repayment of refunding bonds must start within five years after they are issued and be fully paid off within 25 years of their issue date.

This law section states that if there are refunding bonds issued, both the bonds and their interest must be paid at the State Treasurer's office.

This law explains that refunding bonds must be issued in amounts determined by the issuing board but cannot be smaller than $100 or larger than $1,000. The payable amount and interest rate are set in the bond, and interest payments are made every six months.

This law states that refunding bonds need to be signed by the president of the board or another designated board member, and then countersigned by the board's secretary. The board's seal must also be attached to the bonds.

This law says that the interest coupons attached to refunding bonds must be numbered in order. Additionally, the secretary of the board must sign these coupons, and this signature can be engraved or printed using a lithograph method.

The board is allowed to issue and sell refunding bonds, but they must ensure the bonds are sold for at least their face value, plus any interest that has accumulated.

This law section states that money from the sale of certain bonds must be deposited with the State Treasury and specifically credited to the correct drainage district. This money can only be used for the reasons the bonds were originally issued.

The money obtained can also be used to cover the costs related to refinancing debt.

This law says that the money that was originally supposed to pay off the old bonds (both the main amount and any interest) will now be used to pay off the new bonds. These new bonds are called refunding bonds.

This law section explains that when refunding bonds are sold, the assessment installments linked to these bonds need to be collected. If the payments aren't made on time, they can become overdue, and penalties may apply. The processes for sale, redemption, and transferring ownership of the bonds work the same way for refunding bonds as they do for the original bonds.

This law states that the board has the authority to call and redeem refunding bonds once they are sold, following the procedures outlined in Chapter 6.

This section states that the refunding bonds issued by a drainage district are considered legal investments. They can be used for trust funds, insurance company funds, bank funds, trust company funds, and state school funds. Additionally, whenever any law allows money to be invested in bonds of cities, counties, or school districts, that money can also be invested in the drainage district's bonds.

This law allows drainage district refunding bonds to be used as security for performing certain acts or for securing the deposit of public funds. This applies similarly to other bonds issued by cities, counties, or school districts when it comes to using bonds as a guarantee with banks or financial institutions.