Section 46-25-64. – Agreement of the state of Rhode Island.
§ 46-25-64. Agreement of the state of Rhode Island. The state of Rhode Island does hereby pledge to and agree with the holders of any revenue bonds or revenue notes issued under §§ 46-25-58 — 46-25-66, that the state will not limit or alter the rights hereby vested in the commission to fulfill the terms […]
Section 46-25-65. – Credit of the state of Rhode Island.
§ 46-25-65. Credit of the state of Rhode Island. Obligations issued under the provisions of §§ 46-25-58 — 46-25-66 shall not constitute a debt, liability, or obligation of the state or of any political subdivision thereof, other than the commission, or a pledge of the faith and credit of the state or any political subdivision, […]
Section 46-25-66. – Remedies of bondholders and noteholders.
§ 46-25-66. Remedies of bondholders and noteholders. (a) In the event that the commission shall default in the payment of principal of or interest on any revenue bonds or revenue notes, issued pursuant to the provisions of §§ 46-25-58 — 46-25-66, after the bonds or notes shall become due, whether at maturity or upon call […]
Section 46-25-67. – Other statutes and ordinances.
§ 46-25-67. Other statutes and ordinances. Nothing herein contained shall restrict or limit the powers of the commission arising under any laws of this state, or any ordinances of any municipality, except if the powers are expressly contrary to the provisions of this chapter. This chapter shall be construed to provide a complete additional alternative […]
Section 46-25-58. – Revenue bonds and notes of the commission.
§ 46-25-58. Revenue bonds and notes of the commission. (a) The commission shall have the power and is hereby authorized to issue, from time to time, its negotiable revenue bonds and notes in one or more series in such principal amounts as in the opinion of the commission shall be necessary to provide sufficient funds […]
Section 46-25-59. – Security for revenue bonds or revenue notes.
§ 46-25-59. Security for revenue bonds or revenue notes. (a) The principal of and interest on any revenue bonds or revenue notes issued by the commission, may be secured by a pledge of any revenues and receipts of the commission, and may be secured by a mortgage or other instrument covering all or any part […]
Section 46-25-48. – Termination of existence of commission.
§ 46-25-48. Termination of existence of commission. If the people shall reject the proposition submitted to referendum under the provisions of § 46-25-46, the existence of the commission shall terminate on June 30, 1981, unless its existence is extended by the general assembly, and all its rights and properties shall pass as provided in § […]
Section 46-25-49. – Severability.
§ 46-25-49. Severability. If any provisions of this chapter or of any rule, regulation, or order made thereunder, or the application thereof to any person or circumstances, is held invalid by a court of competent jurisdiction, the remainder of this chapter, rule, regulation, or order, and the application of the provision to other persons or […]
Section 46-25-50. – Authority to borrow in anticipation of user fees or state or federal funds.
§ 46-25-50. Authority to borrow in anticipation of user fees or state or federal funds. Pursuant to the provisions of this chapter, the commission is hereby authorized and empowered, with the approval of the governor, to borrow in anticipation of the receipt of user fees or state or federal funds. History of Section.P.L. 1981, ch. […]
Section 46-25-51. – Commission notes.
§ 46-25-51. Commission notes. (a) Money borrowed by the commission pursuant to § 46-25-50 shall be evidenced by notes. The principal and interest of all notes of the commission issued in anticipation of the receipts of state or federal funds shall be payable no later than the fourth anniversary of the date of issue thereof, […]