Sec. 9. The bank may purchase bonds or notes of the bank out of its funds or money available for the purchase of its own bonds and notes. The bank may hold, cancel, or resell the bonds or notes subject to, and in accordance with, agreements with holders of its bonds or notes. Unless cancelled, bonds or notes so held shall be deemed to be held for resale or transfer and the obligation evidenced by the bonds or notes shall not be deemed to be extinguished.
As added by P.L.42-1985, SEC.1. Amended by P.L.29-1986, SEC.13.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.4. Local Public Improvement Bond Banks
Chapter 4. Issuance of Obligations
5-1.4-4-1. Bonds or Notes; Purposes; General Obligation of Bank; Additional Security
5-1.4-4-2. Nature of Bonds or Notes; State Pledge and Agreement
5-1.4-4-3. Negotiability of Bonds and Notes
5-1.4-4-4. Authorization; Issuance in Series; Requirements; Consent of City or State Agency
5-1.4-4-5. Resolution Authorizing Issuance; Adoption; Action to Set Aside Resolution
5-1.4-4-6. Public or Private Sale; Notice
5-1.4-4-7. Issuance of Notes; Payment of Principal or Interest
5-1.4-4-8. Trust Agreement as Security; Provisions of Trust Agreement or Resolution; Expenses