§ 45-12-9 - Retirement of bonds in sinking fund. - Rhode Island Statutes

SECTION 45-12-9

   § 45-12-9  Retirement of bonds in sinkingfund. – Whenever a city or town has purchased any of its own outstanding bonds forinvestment in its sinking fund, the city or town may at the option of thesinking fund commission, if any, or by vote of the town council or citycouncil, retire and permanently cancel the bonds, and upon that retirement allinterest payments on the cancelled bonds shall cease.