Other LanguagesAGLO 1977 NO. 38 >
(1) A parks and recreation district is not legally authorized to issue general obligation bonds for the purpose of refunding previously issued revenue bonds although such a district may issue new revenue bonds to refund its earlier bond issue. (2) A parks and recreation district is not legally authorized to use property tax revenues, including those from an excess levy, to retire outstanding revenue bonds previously issued by such a district.