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    <title>Redemption and roll-over</title>
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    <description>Roll-over of municipal debt securities requires a special resolution, twenty-one days&#039; 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.</description>
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      <description>Roll-over of municipal debt securities requires a special resolution, twenty-one days&#039; 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.</description>
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