§ 23-19.1-25 - Bonds authorized – Maturity – Certification and execution. - Rhode Island Statutes

SECTION 23-19.1-25

   § 23-19.1-25  Bonds authorized –Maturity – Certification and execution. – (a) The general treasurer is authorized and empowered, with the approval of thegovernor and in accordance with the provisions of this chapter, to issue bondsin the name and behalf of the state and in any amounts as may be specified inan amount not to exceed five million dollars ($5,000,000) by the governor to bedesignated as "environmental response fund of 1984." The bonds shall be indenominations of one thousand dollars ($1,000) each or multiples of thisamount, and shall be payable in any coin or currency of the United Stateswhich, at the time of payment, shall be legal tender for public or privatedebts. The bonds shall bear any date or dates, mature at any time or times notexceeding twenty (20) years from their respective date of issue, bear interestpayable semiannually at any rate or different varying rates, be payable at anytime or times, at any place or places, be subject to any terms of recall orredemption, with or without premium, be in any form with or without interestcoupons attached carrying any registration, conversion, reconversion, transfer,debt requirement, acceleration, and other provisions as may be fixed by thegeneral treasurer, with the approval of the governor, upon each issue of thesebonds at the time of each issue.

   (b) Whenever the governor shall approve the issuance of thebonds, the governor shall certify his or her approval to the secretary ofstate; the general treasurer shall countersign the bonds and affix the seal ofthe state. The approval of the governor shall be endorsed on each bond approvedwith a facsimile of the governor's signature.