Section 31-17-49 - Local bonds; purchase of bonds sold below par

Where the bonds so purchased of said county, municipality, or other taxing districts were sold for less than par and accrued interest, then the said board of supervisors, mayor and board of aldermen, or other governing authority of such taxing district, as the case may be, shall not pay a greater price than the price for which the bonds were sold.Codes, 1942, § 4374; Laws, 1934, ch. 334.