§ 9467 Bond Purchase Authority Limits

• •The board can buy bonds directly.
• •They can buy them whenever they want and in any way they choose.
• •They can't pay more than the bond's face value plus any interest that has built up.

Imagine the board wants to buy a bond that is worth $100.

They can buy it for $100 plus any interest that has added up since the bond was issued. They can't pay more than that.