| 7.__Refunding bonds.__The jail authority formed under this |
| chapter by resolution of its board of directors without |
| consent of either county may issue refunding bonds for the |
| purpose of paying any of its bonds at maturity or upon |
| acceleration of maturity or redemption of those bonds. The |
| refunding bonds may be issued at such time prior to the |
| maturity or redemption of the refunded bonds as the board of |
| directors determines to be in the public interest.__The |
| refunding bonds may be issued in sufficient amounts to pay or |
| provide the principal of the bonds being refunded, together |
| with any redemption premium on the bonds, any interest accrued |
| or to accrue to the date of payment of those bonds, the |
| expenses of issuance of the refunding bonds, the expenses of |
| redeeming the bonds being refunded and such reserves for debt |
| service or other capital or current expenses from the proceeds |
| of the refunding bonds as may be required by the trust |
| agreement or resolution securing bonds.__The issuance of |
| refunding bonds, the maturities and other details of the |
| issuance of refunding bonds, the security for the issuance of |
| refunding bonds, the rights of the holders of the issuance of |
| refunding bonds and the rights, duties and obligations of the |
| jail authority in respect of the same is governed by the |
| applicable provisions of this chapter relating to the issuance |
| of bonds. |