§ 45-48.1-11 - Issuance of notes in anticipation of revenue or receipt of grants or other aid. - Rhode Island Statutes

SECTION 45-48.1-11

   § 45-48.1-11  Issuance of notes inanticipation of revenue or receipt of grants or other aid. – The district may also provide by resolution for the issuance, from time totime, of temporary notes in anticipation of the revenues to be collected orreceived by the district in any year, or in anticipation of the receipt offederal, state or local grants or other aid. Notes issued in anticipation ofrevenues, including any renewals thereof, shall mature no later than one yearfrom their respective dates, and that notes issued in anticipation of federal,state or local grants or other aid including any renewals thereof, shall matureno later than three (3) years from their respective dates. The issue of thenotes shall be governed by the provisions of this chapter relating to the issueof bonds or other notes as may be applicable.