§ 42-82-7 - Bonds authorized – Maturity – Certification and execution. - Rhode Island Statutes

SECTION 42-82-7

   § 42-82-7  Bonds authorized – Maturity– Certification and execution. – (a) The general treasurer is hereby authorized and empowered, with the approvalof the governor and in accordance with the provisions of this chapter, to issuefrom time to time bonds in the name and behalf of the state and in amounts thatmay be specified in an amount not to exceed two million dollars ($2,000,000)from time to time by the governor to be designated as "agricultural landspreservation commission loan of 1981." Bonds shall be in denominations of onethousand dollars ($1,000) each or multiples thereof, and shall be payable inany coin or currency of the United States which at the time of payment shall belegal tender for public or private debts. Bonds shall bear a date or dates,mature at a time or times not exceeding twenty (20) years from their respectivedate of issue, bear interest payable semiannually at a rate or differentvarying rates, be payable at a time or times, at a place or places, be subjectto terms of recall or redemption, with or without premium, be in a form with orwithout interest coupons attached carrying a registration, conversion,re-conversion, transfer, debt requirement, acceleration and other provisionsthat may be fixed by the general treasurer, with the approval of the governor,upon each issue of the bonds at the time of each issue.

   (b) Whenever the governor shall approve the issuance of bondshe or she shall certify the approval to the secretary of state; the generaltreasurer shall countersign the bonds and affix the seal of the state. Theapproval of the governor shall be endorsed on each bond so approved with afacsimile of his or her signature.