KRS 184.367: Refunding bonds.

The board of trustees of a transportation improvement district may provide by resolution

for the issuance of bonds of the district, payable solely from pledged revenues, for the

purpose of refunding any bonds then outstanding, including the payment of rela ted

financing expenses and, if considered advisable by the board, for the additional purpose

of paying costs of improvements, extensions, renovations, or enlargements of any project.

The issuance of refunding bonds, the maturities and other details thereof , the rights of the

holders thereof, and the rights, duties, and obligations of the board in respect to the bonds

shall be governed by the provisions of KRS 184.350 to 184.395 insofar as they are

applicable and by the applicable bond proceedings.