South Dakota § 11-11-79 Price of bonds repurchased for cancellation.

South Dakota Statutes

§ 11-11-79 — Price of bonds repurchased for cancellation.

South Dakota·Title 11 PLANNING, ZONING AND HOUSING PROGRAMS·Ch. 11-8 SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY

The authority, subject to such agreements with bondholders as may then exist, may, out of any funds available therefor, purchase bonds of the authority for cancellation. Upon such purchase the bonds shall be canceled, at a price not exceeding:

(1)If the bonds are then redeemable, the redemption price then applicable plus accrued interest to the next interest payment thereon; or (2) If the bonds are not then redeemable, the redemption price applicable on the first date after such purchase upon which the bonds become subject to redemption plus accrued interest to such date.

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The authority, subject to such agreements with bondholders as may then exist, may, out of any funds available therefor, purchase bonds of the authority for cancellation. Upon such purchase the bonds shall be canceled, at a price not exceeding: (1) If the bonds are then redeemable, the redemption price then applicable plus accrued interest to the next interest payment thereon; or (2) If the bonds are not then redeemable, the redemption price applicable on the first date after such purchase upon which the bonds become subject to redemption plus accrued interest to such date.

South Dakota § 11-11-79 (Price of bonds repurchased for cancellation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.