§ 122D-13. Purchase of bonds by Authority. - North Carolina Statutes

§122D‑13.  Purchase of bonds by Authority.

Subject to the rights ofholders of bonds, the Authority shall have the power out of any funds availabletherefor, to purchase bonds of the Authority, which shall thereupon becancelled, at a price not exceeding:

(1)        If the bonds arethen subject to optional redemption, the optional redemption price thenapplicable plus accrued interest to the next interest payment date thereon; or

(2)        If the bonds are notthen subject to optional redemption, the optional redemption price applicableon the first date after such purchase upon which the notes or bonds becomesubject to optional redemption plus accrued interest to such date. (1985(Reg. Sess., 1986), c. 1011, s. 1; 1989, c. 500, s. 109(e); 1989 (Reg. Sess.,1990), c. 1074, s. 32(b).)