Section 45-54-20. – Bonds eligible for investment.
§ 45-54-20. Bonds eligible for investment. The notes and bonds of the corporation are 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 saving associations, including […]
Section 45-54-21. – Limitation of powers.
§ 45-54-21. Limitation of powers. The state pledges to and agrees with the holders of any bonds or notes issued by the corporation, that the state will not limit or alter the rights vested in the corporation to fulfill the terms of any agreements made with the holders until those bonds or notes, together with […]
Section 45-54-22. – Annual report and audit.
§ 45-54-22. Annual report and audit. Within one hundred twenty (120) days from the close of its fiscal year, the corporation shall make an annual report to the chief executive officer and legislative body of the municipality of its activities for the preceding fiscal year. Each report shall present a complete operating and financial statement […]
Section 45-54-23. – Transfers to governmental body.
§ 45-54-23. Transfers to governmental body. When all bonds issued under the provisions of the chapter for each specific project and their interest have been paid, or a sufficient amount for the payment of all the bonds and their interest to the maturity of the bonds have been set aside in trust for the benefit […]
Section 45-54-24. – Applicability of other laws.
§ 45-54-24. Applicability of other laws. This chapter shall be construed to provide a complete additional and alternative method for doing the things authorized hereby and shall be regarded as supplemental and in addition to the powers conferred by other laws. The issuance of all bonds, notes, and other obligations of the corporation under the […]
Section 45-54-25. – Liberal construction.
§ 45-54-25. Liberal construction. This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effectuate its purposes. History of Section.P.L. 1991, ch. 421, § 1.
Section 45-54-16. – Refunding bonds.
§ 45-54-16. Refunding bonds. The corporation is authorized to provide for the issuance of refunding bonds of the corporation for the purpose of refunding any bonds then outstanding which have been issued under the provisions of this chapter, including the payment of any redemption premium thereon or interest accrued or to accrue to the earliest […]
Section 45-54-17. – Credit of state and political subdivisions not pledged.
§ 45-54-17. Credit of state and political subdivisions not pledged. (a) Revenue bonds issued under the provisions of this chapter are not deemed to constitute a debt or a pledge of the faith and credit of the state or the municipality, but are payable solely from the funds provided from revenues. All revenue bonds shall […]
Section 45-54-18. – Use of projects.
§ 45-54-18. Use of projects. The use of the facilities of the corporation and the operation of its business are subject to the rules and regulations from time to time adopted by the corporation; provided, that the corporation is not authorized to do anything which will impair the security of the holders of the obligations […]
Section 45-54-6. – Powers.
§ 45-54-6. Powers. Except to the extent inconsistent with any specific provision of this chapter, the corporation has the power: (1) To sue and be sued, complain, and defend in its corporate name; (2) To have a seal, which may be altered at pleasure, and to use the seal by causing it or a facsimile […]