§39A‑46  Refunding special purposerevenue bonds.  The legislature, by act enacted by an affirmative vote oftwo-thirds of the members to which each house is entitled, may authorize theissuance of refunding special purpose revenue bonds for the purpose ofrefunding any special purpose revenue bonds then outstanding and issued underthe provisions of this part, whether or not such outstanding special purposerevenue bonds have matured or are then subject to redemption.  The legislatureis further authorized to provide, by act finally enacted by an affirmative voteof two-thirds of the members to which each house is entitled, for the issuanceof a single issue of special purpose revenue bonds for the combined purposes of(1) financing or refinancing the cost of a project or improvement or expansionthereof, and (2) refunding special purpose revenue bonds which shalltheretofore have been issued under the provisions of this part and shall thenbe outstanding, whether or not such outstanding special purpose revenue bondshave matured or are then subject to redemption.  Nothing in this section shallrequire or be deemed to require the legislature to elect to redeem or prepayspecial purpose revenue bonds being refunded, or to redeem or prepay specialpurpose revenue bonds being refunded which were issued in the form customarilyknown as term bonds in accordance with any sinking fund installment schedulespecified in any law authorizing the issuance thereof, or, in the event thedepartment elects to redeem or prepay any such bonds, to redeem or prepay as ofany particular date or dates.  The issuance of such special purpose revenuebonds, the maturities and other details thereof, and the rights and remedies ofthe holders thereof, and the rights, powers, privileges, duties, andobligations of the department with respect to the same, shall be governed bythe foregoing provisions of this part insofar as the same may be applicable. [L1980, c 255, pt of §2]