(a) The authority to issue the Class A Bonds shall expire at 11:59 p.m. on September 30, 2025, if no Bonds have been issued; provided, that the expiration of the authority shall have no effect on any Bonds issued on or prior to the expiration date or on the District's ability to issue Refunding Bonds on a future date. Class A Bonds issued as draw down bonds shall be deemed to have been issued for the purposes of this subsection in their entirety on the date of the first draw of principal on such Class A Bonds.
(b) The authority to issue the Class B Bonds shall expire at 11:59 p.m. on September 30, 2030; provided, however, that the expiration of the authority shall have no effect on any Class B Bonds issued prior to the expiration date.
