§ 159-38. Local units authorized to accept their bonds in payment of certain claims and judgments.
§ 159‑38. Local units authorized to accepttheir bonds in payment of certain claims and judgments.
Any unit of local government or public authority may accept its ownbonds, at par, in settlement of any claim or judgment that it may have againstany person, firm, corporation, or association due to funds held in an insolventbank, trust company, or savings and loan association. (1933, c. 376; 1971, c. 780, s. 1.)