Section 45-27-21. – Bonds as legal investments.
§ 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 […]
Section 45-27-11. – Remedies of obligee.
§ 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 […]
Section 45-27-12. – Remedies conferrable on obligee by housing authority.
§ 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) […]
Section 45-27-13. – Remedies cumulative.
§ 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, § […]
Section 45-27-14. – Limitation on remedies against property of authority.
§ 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 […]
Section 45-27-15. – Subordination of mortgage to government contract.
§ 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 […]
Section 45-27-16. – Obligations in federal contracts.
§ 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, […]
Section 45-27-17. – Validation of prior agreements.
§ 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, […]
Section 45-27-18. – Validation of previous acts.
§ 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 […]
Section 45-27-19. – Validation of defense housing activities.
§ 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 […]