[§10‑34]  Funding and refunding bonds;authorization and purpose.  The board may provide for the issuance ofrevenue bonds (herein referred to as refunding bonds) for the purpose ofrefunding, redeeming, or retiring at or at any time before maturity or at anytime before the first date upon which the outstanding bonds to be refunded maybe called for redemption, any bonds issued under this part, including any bondswhich the holders may consent to be paid or refunded even though the bonds arenot matured or are not callable or redeemable, and for the purpose of fundingindebtedness not evidenced by revenue bonds but which was incurred for purposesfor which revenue bonds may be issued pursuant to this part.  The rate or ratesof interest borne by the refunding bonds shall not be affected or limited bythe rate or rates of interest borne by the bonds to be refunded or theindebtedness to be funded.  All provisions of this part applicable to theissuance of revenue bonds shall be complied with in the issuance of refundingbonds.  Refunding bonds shall be sold as provided in section 10‑25, orthe board may, in its discretion, provide for the exchange of refunding bondsfor a like principal amount of outstanding bonds for the refunding of which theissuance of such refunding bonds has been authorized, whether or not theinterest rate on the refunding bonds is higher than the interest rate on thebonds refunded thereby. [L 1994, c 283, pt of §2(2)]