7-15-4508. Purchase of bonds by housing authority.
84 words·~1 min read·
/mt/title-7/chapter-15/part-45/7-15-4508·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7-15-4508 . Purchase of bonds by housing authority.
(1)The authority shall have power out of any funds available therefor to purchase any bonds issued by it at a price not more than the principal amount thereof and the accrued interest; provided, however, that bonds payable exclusively from the revenues of a designated project or projects shall be purchased out of any such revenues available therefor. All bonds so purchased shall be canceled.
(2)This section shall not apply to the redemption of bonds.