SECTION 132.14. Exchange in lieu of sale.

Latest version.

1As hereinbefore provided the refunding bonds instead of being sold may be exchanged for bonds or for interest on bonds or interest on overdue interest on bonds to refund which they are issued. The principal and accrued interest of the refunding bonds shall not exceed the amount of the obligations refunded.

History.-s. 14, ch. 15772, 1931; CGL 1936 Supp. 2383(14).

Bills Cite this Section:

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Cited by Court Cases:

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