The authority, subject to such agreements with noteholders or bondholders as may then exist, shall have power, out of any funds available therefor, to purchase notes or bonds of the authority.
If the notes or bonds are then redeemable, the price of such purchase shall not exceed the redemption price then applicable plus accrued interest to the next interest payment date thereon. If the notes or bonds are not then redeemable, the price of such purchase shall not exceed the redemption price applicable on the first day after such purchase upon which the notes or bonds become subject to redemption plus accrued interest to such date. Upon such purchase such notes or bonds shall be cancelled.
Structure West Virginia Code
Article 19. West Virginia Community Infrastructure Authority
§31-19-2. Legislative Findings and Purposes
§31-19-6. Powers, Duties and Responsibilities of the Authority Generally
§31-19-8. Trustee for Bondholders; Contents of Trust Agreement
§31-19-9. Legal Remedies of Bondholders and Trustees
§31-19-11. Use of Funds by Authority; Restrictions Thereon
§31-19-12. Investment of Funds by Authority
§31-19-13. Reports by Authority to Governor and Legislature
§31-19-14. Community Infrastructure Bonds Lawful Investments
§31-19-15. Purchase and Cancellation of Notes or Bonds
§31-19-17. Exemption From Taxation
§31-19-18. Financial Interests in Contracts Prohibited; Penalty
§31-19-19. Meetings and Records of Authority to Be Kept Public