The comptroller and treasurer shall have authority to repurchase municipal bonds, notes, commercial paper or other instruments representing a debt obligation of the city. The comptroller and treasurer are hereby authorized to use, for the purpose of making such repurchases, money out of any fund set aside for use for some particular purpose that is not immediately necessary for that purpose. Instruments repurchased under this section may be canceled or may be held in the custody of the city treasurer as provided in this chapter.
(Prior code § 7-48; Amend Coun. J. 11-5-03, p. 9539, § 1)