In case of refunding bonds which are not exchanged for bonds outstanding but are sold, only such amount thereof shall be delivered as is necessary to provide for the payment of matured bonds and legally accrued interest and of such unmatured bonds as the holders thereof have agreed in writing to surrender upon payment of a sum not exceeding par and legally accrued interest.
Fla. Stat. § 132.11
Amount of refunding bonds to be sold
Known as the Advance Refunding Law
The act spans §§ 132–132 (46 sections).
History.--s. 11, ch. 15772, 1931; CGL 1936 Supp. 2383(11).
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.