State Ex Rel. Board of Education v. Shafer

Relator’s refunding project is proposed and has been framed in accordance with Section 2293-6, General Code (112 Ohio Laws, 366; 116 Ohio Laws, Pt. 2, —), now reading as follows:

“A subdivision may issue bonds subject to call or redemption prior to maturity at not more than par. When a subdivision has issued bonds subject to call or redemption prior to maturity, the taxing authority, without the consent of the tax commission of Ohio, shall have power to refund such bonds at a lower rate of interest than is provided therein, provided that the bonds issued shall not exceed in amount the bonds…