Louisiana Revised Statutes 3:273 – Purchase of bonds by Authority
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Terms Used In Louisiana Revised Statutes 3:273
- Authority: means the Louisiana Agricultural Finance Authority created by this Chapter. See Louisiana Revised Statutes 3:263
- Bonds: means the bonds, notes, renewal notes, refunding bonds, interim certificates, certificates of indebtedness, debentures, warrants, commercial paper, or other obligations or evidences of indebtedness authorized to be issued by the Authority pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 3:263
Subject to the rights of holders of bonds, the Authority shall have the power out of any funds available therefor, to purchase bonds of the Authority, which shall thereupon be cancelled, at a price not exceeding:
(1) If the bonds are then subject to optional redemption, the optional redemption price then applicable plus accrued interest to the next interest payment date thereon; or
(2) If the bonds are not then subject to optional redemption, the optional redemption price applicable on the first date after such purchase upon which the notes or bonds become subject to optional redemption plus accrued interest to such date.
Added by Acts 1983, No. 96, §1, eff. July 23, 1983.