§ 250.416.

EXISTING BONDS-EXCHANGE

If the invalidity is in the bonds themselves or in the issuance thereof, or if the Board so determines in the re-assessment proceedings, new bonds shall be issued and exchanged for the outstanding bonds. The new bonds shall mature in the amounts and at the times provided for the outstanding bonds, as nearly as may be. If the Board so determines, it may assign different bonds and allot maturities as it deems equitable.

History

(Added by Ord. 225-81, App. 5/5/81)

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