§ 45-27-7 - Repurchase of bonds. - Rhode Island Statutes

SECTION 45-27-7

   § 45-27-7  Repurchase of bonds. – The authority has power, out of any funds available therefor, to purchase anybonds issued by it at a price not more than the principal amount of the bondsand the accrued interest; provided, that bonds payable exclusively from therevenues of a designated project or projects shall be purchased out of anyrevenues available therefor. All bonds so purchased shall be cancelled. Thissection does not apply to the redemption of bonds.