31 USC 3111 – New issue used to buy, redeem, or refund outstanding obligations
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An obligation may be issued under this chapter to buy, redeem, or refund, at or before maturity, outstanding bonds, notes, certificates of indebtedness, Treasury bills, or savings certificates of the United States Government. Under regulations of the Secretary of the Treasury, money received from the sale of an obligation and other money in the general fund of the Treasury may be used in making the purchases, redemptions, or refunds.
Terms Used In 31 USC 3111
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.