The governing body of the county shall have the right to purchase for retirement and cancellation any of such bonds that may be outstanding at the market price, but not exceeding one hundred five and accrued interest, nor exceeding the price, if any, at which the same shall in the same year be redeemable. All bonds redeemed or purchased out of the funds provided by the sale of bridge bonds, shall forthwith be canceled and shall not again be issued. Prior to the preparation of definitive bonds, the governing body of the county may under like restrictions issue temporary bonds with or without coupons, exchangeable for definitive bonds upon the issuance of the latter.