The authority has power, out of any funds available therefor, to purchase any bonds issued by it at a price not more than the principal amount of the bonds and the accrued interest; provided, that bonds payable exclusively from the revenues of a designated project or projects shall be purchased out of any revenues available therefor. All bonds so purchased shall be cancelled. This section does not apply to the redemption of bonds.
History of Section.
P.L. 1935, ch. 2255, § 14; G.L. 1938, ch. 344, § 14; G.L. 1956, § 45-27-7; P.L. 2009, ch. 310, § 59.