Section 45-50-14. – Revenue bonds.
§ 45-50-14. Revenue bonds. (a) The authority is 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 a part of the cost of any one or more projects, the construction or acquisition of which is […]
Section 45-50-15. – Trust agreements.
§ 45-50-15. Trust agreements. In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. […]
Section 45-50-16. – Revenues.
§ 45-50-16. Revenues. (a) The authority is authorized and empowered to fix, revise, and collect from time to time, subject to the provisions of this chapter, fees, rentals, and other charges for the use of projects of, or the services rendered by, the authority to pay: (1) The cost of maintaining, repairing, and operating the […]
Section 45-50-4. – Resolution conclusive as to capacity of authority.
§ 45-50-4. Resolution conclusive as to capacity of authority. In any suit, action, or proceeding involving the validity or enforcement of, or relating to any contract by or on behalf of an authority, the authority shall be conclusively deemed to have become established and authorized to transact business and exercise its powers upon proof of […]
Section 45-50-17. – Trust funds.
§ 45-50-17. Trust funds. All moneys received pursuant to the provisions of this chapter, whether as proceeds from the sale of bonds or as revenues, are deemed to be trust funds to be held and applied as may be provided in the resolution authorizing the issuance of the bonds or the trust agreement securing the […]
Section 45-50-5. – Appointment of authority members.
§ 45-50-5. Appointment of authority members. When the council of a city or town first adopts a resolution as provided for in § 45-50-3, the elected chief executive officer, in cities and towns having a popularly elected chief executive officer, shall appoint five (5) resident electors of the city or town as members of the […]
Section 45-50-18. – Remedies.
§ 45-50-18. Remedies. Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining to them, and the trustee under the trust agreement or the resolution, except to the extent the rights given by this chapter may be restricted by the trust agreement or the resolution, may by civil […]
Section 45-50-5.1. – Compliance with laws and contractual obligations.
§ 45-50-5.1. Compliance with laws and contractual obligations. The authority and its members are under a statutory duty to comply or to cause compliance strictly with all provisions of this title and the laws of the state, and in addition thereto, with each and every term, provision, and covenant in any contract of the authority […]
Section 45-50-19. – Exemptions from taxation.
§ 45-50-19. Exemptions from taxation. The exercise of the powers granted by this chapter are, in all respects, for the benefit of the people of the municipality and the state of Rhode Island and for the facilitation of the conduct of their public business; and as the acquisition, construction, operation, and maintenance by the authority […]
Section 45-50-5.2. – Interest of members or employees in property.
§ 45-50-5.2. Interest of members or employees in property. No member or employee of an authority shall acquire any direct interest in any project or in any property included or planned to be included in any project, nor shall he or she have any direct or indirect interest in any contract or proposed contract for […]