As 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.
Fla. Stat. § 132.14
Exchange in lieu of sale
Known as the Advance Refunding Law
The act spans §§ 132–132 (46 sections).
History.--s. 14, ch. 15772, 1931; CGL 1936 Supp. 2383(14).
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.