Montana § 80-12-306 Purchase Of Bonds -- Cancellation

Montana Statutes

§ 80-12-306 — Purchase Of Bonds -- Cancellation

Montana·Title 80 AGRICULTURE·Ch. 12 MONTANA AGRICULTURAL LOAN AUTHORITY ACT·Part 3 Bonds

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.

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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.

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