---
urn: urn:us-la:rs:38:433
citation: "R.S. 38:433"
status: active
breadcrumb: "Title 38 › Chapter 4 › Part VII › Subpart A"
acts_citations:
  - { year: 1985, number: 785, section: 1, effective_date: 1985-07-22, role: enactment }
---

# Refunding of outstanding bonds

The refunding of the outstanding bonds of a levee district or levee and drainage district into the bonds authorized by this Subpart may be effected by a direct exchange of bonds or by a negotiation of the bonds authorized by this Subpart, and the application of the proceeds to the payment of redemption of the bonds now outstanding.