South Carolina Code 11-43-370. Purchase of outstanding bonds; price
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Terms Used In South Carolina Code 11-43-370
- Bank: means the South Carolina Transportation Infrastructure Bank. See South Carolina Code 11-43-310
- Bonds: means any bonds, notes, debentures, interim certificates, grant or revenue anticipation notes, or any other evidence of indebtedness of the bank incurred pursuant to this article. See South Carolina Code 11-43-310
The bank, subject to agreements with bondholders as may then exist, may purchase outstanding bonds of the bank with any available funds, at any reasonable price. If the bonds are then redeemable, the price must not exceed the redemption price then applicable plus accrued interest to the next interest payment date.