HRS §163D-12
How the corporation can invest and buy back its revenue bonds
This section lets the corporation invest money it does not need right away, including bond sale proceeds, as long as it follows the trust agreement. It can also buy back its own revenue bonds using available funds, then keep, cancel, or resell them. The rules depend on what the bondholders agreed to.
businesses
The statute, as written — Revenue bonds; investment of proceeds, and redemption
Subject to any agreement with the holders of its revenue bonds, the corporation may: (1) Invest its moneys not required for immediate use, including proceeds from the sale of revenue bonds, in any investment in accordance with procedures prescribed in a trust indenture; and (2) Purchase its revenue bonds out of any fund or money of the corporation available therefor, and hold, cancel, or resell the revenue bonds.
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