80-12-306. Purchase of bonds -- cancellation. The authority, subject to existing agreements with bondholders, may from any funds available for that purpose purchase bonds of the authority, which shall thereupon be canceled, at a price not exceeding:
(1) the current redemption price plus accrued interest to the next interest payment thereon, if the bonds are then redeemable; or
(2) the redemption price applicable on the first date after purchase upon which the bonds become subject to redemption plus accrued interest to that date, if the bonds are not then redeemable.
History: En. Sec. 14, Ch. 580, L. 1983.
Structure Montana Code Annotated
Chapter 12. Montana Agricultural Loan Authority Act
80-12-301. Issuance of bonds -- credit of the state not pledged
80-12-302. Provisions of bond resolutions or trust indentures
80-12-304. Negotiability of bonds
80-12-305. Tax exemption of bonds
80-12-306. Purchase of bonds -- cancellation
80-12-307. Pledge against impairment of contracts
80-12-310. Continuing validity of authority members' signatures
80-12-311. Accounts of the authority
80-12-312. Reserve funds and appropriations