An authority may:
(a) Invest any money held in reserves or sinking funds, or any money not required for immediate disbursement, in property or securities in which commercial banks may legally invest money subject to their control.
(b) Purchase its bonds at a price not more than their principal amount and accrued interest; all bonds so purchased shall be canceled.
(Amended by Stats. 1975, Ch. 1135.)
Last modified: October 25, 2018