Roll-over of municipal debt securities requires special resolution, notice with credit rating disclosure, and redemption for nonconsenting holders. Roll-over of municipal debt securities requires a special resolution, twenty-one days' notice to holders with disclosure of credit rating and rationale, and prior filing with stock exchanges for public dissemination. Roll-over approval must reflect a supermajority of holders by value, be supported by at least one recent credit rating disclosed in the notice, and be accompanied by a fresh trust deed or permissible continuation of the existing trust deed. Issuers must redeem securities of holders who do not give positive consent.