§ 45-27-1. Types of bonds issuable — Pledge of revenues — Mortgages. (a) The authority has power to issue bonds, from time to time in its discretion, for any of its corporate purposes. The authority also has power to issue refunding bonds for the purpose of paying or retiring bonds previously issued by it. The […]
§ 45-27-10. Mortgage of property. In connection with any project financed in whole or in part or otherwise aided by a government (whether through a donation of money or property, a loan, the insurance or guaranty of a loan, or otherwise), the authority also has power to mortgage all or any part of its property, […]
§ 45-27-11. Remedies of obligee. An obligee of the authority has the right, in addition to all other rights which may be conferred on the obligee, subject only to any contractual restrictions binding upon the obligee: (1) By mandamus, suit, action, or proceeding in law or equity (all of which may be joined in one […]
§ 45-27-12. Remedies conferrable on obligee by housing authority. Any authority has power by its trust indenture, mortgage, lease, or other contract to confer upon any obligee, holding or representing a specified amount in bonds, lease, or other obligations, the right upon the happening of an “event of default” as defined in the instrument: (1) […]
§ 45-27-13. Remedies cumulative. All the rights and remedies conferred in this chapter are cumulative and in addition to all other rights and remedies that may be conferred upon an obligee of the authority by law or by contract with the authority. History of Section.P.L. 1935, ch. 2255, § 19; G.L. 1938, ch. 344, § […]
§ 45-27-14. Limitation on remedies against property of authority. (a) No interest of the authority in any property, real or personal, is subject to sale by the foreclosure of a mortgage on it, either through judicial proceedings or the exercise of a power of sale contained in the mortgage, except in the case of the […]
§ 45-27-15. Subordination of mortgage to government contract. The authority may agree in any mortgage made by it that the mortgage is subordinate to a contract for the supervision by a government of the operation and maintenance of the mortgaged property and the construction of improvements on it. In that event, any purchaser or purchasers […]
§ 45-27-16. Obligations in federal contracts. In addition to the powers conferred upon the authority by other provisions of chapters 25 — 27 of this title, the authority is empowered to borrow money or accept grants from the federal government for or in aid of any housing project which the authority is authorized to undertake, […]
§ 45-27-17. Validation of prior agreements. All agreements, and undertakings of housing authorities established pursuant to the housing authorities law, entered into before March 8, 1943, relating to financing or aiding in the development or operation of any housing projects, including (without limiting the generality of the foregoing) loan and annual contributions contracts, agency contracts, […]
§ 45-27-18. Validation of previous acts. (a) All proceedings, acts, and things undertaken or done before March 8, 1943, in or for the authorization, issuance, execution, sale, and delivery of notes and bonds by housing authorities for the purpose of financing or aiding in the development or construction of a housing project or projects, are […]
§ 45-27-19. Validation of defense housing activities. All bonds, notes, contracts, agreements, and obligations of housing authorities issued or entered into before May 6, 1941, relating to financing or undertaking (including cooperating with or acting as an agent of the federal government in) the development or administration of any project to assure the availability of […]
§ 45-27-2. Liability on bonds — Statutory limitations inapplicable. Neither the commissioners of the authority nor any person executing the bonds is personally liable on the bonds by reason of their issuance. The bonds and other obligations of the authority (and the bonds and obligations shall so state on their face) are not a debt […]
§ 45-27-20. Security for deposits by authority. The authority may by resolution provide that: (1) All moneys deposited by it are secured by obligations of the United States or of the state, of a market value equal at all times to the amount of the deposits, or (2) By any securities in which savings banks […]
§ 45-27-21. Bonds as legal investments. (a) Notwithstanding any restrictions on investments contained in any laws of this state, the state and all public officers, municipal corporations, political subdivisions, and public bodies, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying […]
§ 45-27-3. Authorization, form, and terms of bonds. The bonds of the authority are authorized by its resolution, and issued in one or more series, and bearing a date or dates, maturing at a time or times (not exceeding sixty (60) years from their respective dates), bearing interest at a rate or rates (not exceeding […]
§ 45-27-4. Sale of bonds — Notice. The bonds may be sold at public or private sale at a price or prices that the authority determines. History of Section.P.L. 1935, ch. 2255, § 14; G.L. 1938, ch. 344, § 14; G.L. 1956, § 45-27-4; P.L. 1973, ch. 244, § 1; P.L. 2007, ch. 292, § […]
§ 45-27-5. Interim certificates and temporary obligations. Pending the authorization, preparation, execution, or delivery of definitive bonds, the authority may issue interim certificates, or other temporary obligations to the purchaser of those bonds. The interim certificates, or other temporary obligations, shall be in a form, contain terms, conditions and provisions, bear a date or dates, […]
§ 45-27-6. Continuing validity of signatures of officers. In case any of the officers whose signatures appear on any bonds or coupons cease to be officers before the delivery of the bonds, their signatures shall, nevertheless, be valid and sufficient for all purposes, the same as if they had remained in office until the delivery. […]
§ 45-27-7. Repurchase of bonds. The authority has power, out of any funds available therefor, to purchase any bonds issued by it at a price not more than the principal amount of the bonds and the accrued interest; provided, that bonds payable exclusively from the revenues of a designated project or projects shall be purchased […]
§ 45-27-8. Negotiability of bonds. Notwithstanding any provision of any law to the contrary, any bonds, interim certificates, or other obligations issued pursuant to this chapter are fully negotiable. History of Section.P.L. 1935, ch. 2255, § 14; G.L. 1938, ch. 344, § 14; G.L. 1956, § 45-27-8.
