Section 39-16-21. – Transfer on dissolution.
§ 39-16-21. Transfer on dissolution. If the authority shall be dissolved, all funds of the authority, not required for the payment of bonds or other debts of the authority, the disposition of which is not otherwise governed by contracts to which the authority may be party, shall be paid to the towns of East Greenwich, […]
Section 39-16-22. – Notes.
§ 39-16-22. Notes. The authority may, by resolution, authorize the issue from time to time of interest bearing or discounted notes in anticipation of the issue of bonds. Temporary notes issued under this section shall be signed by the chairperson and the treasurer of the authority and shall be payable within five (5) years of […]
Section 39-16-11. – Terms and sale of bonds — Refunding.
§ 39-16-11. Terms and sale of bonds — Refunding. (a) The authority is hereby authorized to provide by resolution for the issuance, at one time or from time to time, of revenue bonds of the authority for the purpose of paying all or part of the cost to acquire, construct, reconstruct, rehabilitate, improve, or maintain […]
Section 39-16-12. – Covenants permissible in bond resolution.
§ 39-16-12. Covenants permissible in bond resolution. Any resolution or resolutions authorizing any bonds or any issue of bonds may contain provisions that shall be a part of the contract with the holders of the bonds thereby authorized, as to: (1) Pledging all or any part of the money, earnings, income, and revenues derived from […]
Section 39-16-13. – Tax exemption.
§ 39-16-13. Tax exemption. It is hereby declared that the authority and the carrying out of its corporate purposes is in all respects for the benefit of the people of the state and for the improvement of their health, welfare, and prosperity, and the authority will be performing an essential governmental function in the exercise […]
Section 39-16-14. – Payments in lieu of taxes.
§ 39-16-14. Payments in lieu of taxes. The authority shall pay annually, having first made provision for the payment of principal and interest on any bonds outstanding and any other charges payable from revenues due in such year as may be provided in the resolution or resolutions authorizing any bonds, in lieu of any property […]
Section 39-16-15. – Pledge not to alter rights of authority.
§ 39-16-15. Pledge not to alter rights of authority. The state does hereby pledge to and agree with the holders of the bonds, notes, and other evidences of indebtedness of the authority that the state will not limit or alter rights hereby vested in the authority until the bonds, notes, or other evidences of indebtedness, […]
Section 39-16-16. – Bonds as legal investments.
§ 39-16-16. Bonds as legal investments. The bonds are hereby made securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions; all insurance companies and associations and other persons carrying on an insurance business; all banks, bankers, trust companies, savings banks, and savings associations, including savings and loan […]
Section 39-16-17. – Money of authority.
§ 39-16-17. Money of authority. All money of the authority, from whatever source derived, shall be paid to the treasurer of the authority. The money on receipt shall be deposited forthwith in a separate bank account or accounts. The money in the accounts shall be paid out on check of the treasurer, on requisition by […]
Section 39-16-18. – Right to alter, amend, or repeal chapter.
§ 39-16-18. Right to alter, amend, or repeal chapter. The right to alter, amend, or repeal this chapter is hereby expressly reserved, but no such alteration, amendment, or repeal shall operate to impair the obligation of any contract made by the authority under any power conferred by this chapter. History of Section.P.L. 1946, ch. 1740, […]