§48E-16  Refunding special purpose revenue
bonds.  The governing body of a county, by separate ordinance finally
enacted by an affirmative vote of two-thirds of the members to which such
governing body is entitled, may authorize the issuance of refunding special
purpose revenue bonds of the county for the purpose of refunding any special
purpose revenue bonds then outstanding and issued by that county under this
chapter, whether or not such outstanding special purpose revenue bonds have
matured or are then subject to redemption.  Each county is authorized to
provide, by separate ordinance finally enacted by an affirmative vote of
two-thirds of the members to which such governing body is entitled, for the
issuance of a single issue of special purpose revenue bonds of the county for
the combined purposes of (1) financing the cost of a pollution control project
or improvement or expansion thereof, and (2) refunding special purpose revenue
bonds of the county which theretofore shall have been issued under this chapter
and then shall be outstanding, whether or not such outstanding special purpose
revenue bonds have matured or then are subject to redemption.



Nothing in this section shall require or be
deemed to require a county to elect to redeem or prepay special purpose revenue
bonds being refunded which were issued in the form customarily known as term
bonds in accordance with any sinking fund installment schedule specified in any
ordinance authorizing the issuance thereof, or, if a county elects to redeem or
prepay any such bonds, to redeem or prepay as of any particular date or dates. 
The issuance of such special purpose revenue bonds, the maturities, and other
details thereof, the rights and remedies of the holders thereof, and the
rights, powers, privileges, duties, and obligations of the county with respect
to the bonds, shall be governed by the foregoing provisions of this chapter
insofar as the provisions may be applicable. [L 1983, c 237, pt of §2]