§ 45-38.1-8 - Notes of the corporation. - Rhode Island Statutes

SECTION 45-38.1-8

   § 45-38.1-8  Notes of the corporation.– The corporation has the power and is hereby authorized, from time to time, toissue its negotiable notes, revenues anticipation notes, and capital notes forany corporate purpose or project and renew, from time to time, any notes by theissuance of new notes, whether the notes to be renewed have or have notmatured. The corporation may issue notes partly to renew notes or to dischargeother obligations then outstanding, and partly for any other purpose. The notesmay be authorized, sold, executed, and delivered in the same manner as bonds.Any resolution or resolutions authorizing notes of the corporation, or anyissue of notes, may contain any provisions which the corporation is authorizedto include in any resolution or resolutions authorizing revenue bonds of thecorporation or any issue thereof, and the corporation may include, in anynotes, any terms, covenants, or conditions which it is authorized to include inany bonds. All the notes are payable solely from the revenues of thecorporation, subject only to any contractual rights of the holders of any ofits notes or other outstanding obligations.