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AGO Opinions with Topic: PARKS AND RECREATION
AGLO 1977 No. 38 >  September 20, 1977
DISTRICTS - PARKS AND RECREATION - BONDS - TAXATION
FUNDING OR REFUNDING OF REVENUE BONDS (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.
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