80-1611. Same; surrender of outstanding bonds. No refunding revenue bonds issued under the provisions of this act shall be exchanged with the holder of the previously outstanding indebtedness refunded until the outstanding revenue bonds, or other evidence of indebtedness to be refunded, shall have been surrendered to the issuing township board of trustees.

History: L. 1947, ch. 483, § 2; L. 1977, ch. 58, § 18; May 18.