5-1169

5-1169. Bond purchase for cancellation

(Conditionally Rpld.)

The authority board may purchase bonds for cancellation, using any available monies,
at a price not exceeding the following:

1. If the bonds are redeemable at the time of purchase, the applicable redemption
price plus accrued interest to the next interest payment date.

2. If the bonds are not redeemable at the time of purchase, the applicable
redemption price on the first date after purchase on which the bonds become subject to
redemption plus accrued interest to that date.