R.I. Gen. Laws tit. 45, ch. 12 – Indebtedness of Towns and Cities | Midpage

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Rhode Island General Laws

Chapter 45-12

R.I. Gen. Laws tit. 45, ch. 12

Indebtedness of Towns and Cities

45-12-1Payment of indebtedness 45-12-2Maximum aggregate indebtedness 45-12-2.1Ministerial approval 45-12-3Statements to accompany bills to general assembly to authorize indebtedness 45-12-4Borrowing in anticipation of taxes 45-12-4.1Borrowing where collection of taxes delayed or taxes refunded 45-12-4.2Borrowing in anticipation of federal or state grants 45-12-4.3Borrowing in anticipation of water and sewer tax and user charge revenue 45-12-4.4Borrowing in payment of certain judgments 45-12-4.5Relationship to charters 45-12-5Sale of evidences of indebtedness — Annual payments — Terms 45-12-5.1Callable bonds 45-12-5.2Issuance of refunding bonds to pay outstanding bonds 45-12-5.3Debt maturity for United States Department of Agriculture/Rural Development bonds 45-12-5.4Cities or towns with a population greater than 125,000 inhabitants — Variable rate obligations and interest exchange agreements 45-12-6Statutory bond authorizations construed as additional authority 45-12-7Sinking fund provisions construed as additions to general sinking fund 45-12-8Establishment of general sinking fund — Computation of payments to sinking fund 45-12-9Retirement of bonds in sinking fund 45-12-11Authority for issuance of indebtedness excess 45-12-12City and town boards to authorize duplicate bonds 45-12-13Repair or replacement of damaged bond or note 45-12-14Replacement of lost or destroyed bond or note — Bond to indemnify city or town 45-12-15Contractual debts unimpaired 45-12-16Interest rate 45-12-17Debt previously approved 45-12-18Bond anticipation notes 45-12-19Charter provisions as to referendum 45-12-20Issuance of bonds authorized by law approved by electors 45-12-21Powers of financial town meeting not affected 45-12-22.1Municipal deficits — Purpose 45-12-22.2Monitoring of financial operations — Corrective action 45-12-22.3Year-end deficits 45-12-22.4Deficit, pension and other post-employment benefit financing — Approval required 45-12-22.5Unbudgeted expenditures 45-12-22.6Cooperation of school committees 45-12-22.7Enforcement and remedies 45-12-23Tax exemption 45-12-25Sale of bonds or notes at a discount 45-12-26Commercial agreements relating to registered bonds and notes 45-12-27Conflict between bond referendum provisions and bond expenditure provisions 45-12-28Permitted temporary investments for bond proceeds 45-12-29Agreements relating to tax and securities compliance rebate to federal government 45-12-30Securing of bonds or notes — Trust agreements 45-12-31Extinguishment of authorizations 45-12-32Inability to pay interest or principal of bonds, notes or certificates of indebtedness — Notice — Certification to general treasurer — Payment by general treasurer 45-12-33Borrowing for road and bridge, infrastructure, and school building projects