§ 45-12-7 - Sinking fund provisions construed as additions to general sinking fund. - Rhode Island Statutes

SECTION 45-12-7

   § 45-12-7  Sinking fund provisionsconstrued as additions to general sinking fund. – Whenever in any general law, public law, act, or resolution of the generalassembly, authority has been given to a city or town for the issuance of bonds,and provision has been made for the establishment of a sinking fund toextinguish the debt at its maturity, that provision shall be construed to meanan addition to the general sinking fund of the city or town for the redemptionof the bonds of the respective city or town at their maturities as provided inthis chapter.