§ 2-618. Refunding obligations.

The county may, by resolution, issue obligations to refund any obligations issued pursuant to this division and provide for the rights of the holders thereof. Such refunding obligations may be issued in an amount, together with the investment income thereon, sufficient to pay:

(1)

The principal of the outstanding obligations;

(2)

The interest due and payable on the outstanding obligations to and including any date upon which the outstanding obligations shall be callable prior to maturity or the dates upon which the principal thereof shall mature before the same are callable prior to maturity;

(3)

The redemption premium, if any; and

(4)

Any expenses of the issuance and sale of such refunding obligations.

(Ord. No. 82-47, § 8)