§ 45-48.1-13 - Refunding bonds and notes. - Rhode Island Statutes

SECTION 45-48.1-13

   § 45-48.1-13  Refunding bonds and notes.– The district may issue refunding bonds and notes for the purpose of paying anyof its bonds or notes at maturity or upon acceleration or redemption. Refundingbonds and notes may be issued at a time prior to the maturity or redemption ofthe refunded bonds or notes as the district deems to be in the public interest.Refunding bonds and notes may be issued in sufficient amounts to pay or providethe principal of the bonds or notes being refunded, together with anyredemption premium thereon, any interest accrued or to accrue to the date ofpayment of the bonds or notes, the expenses of issue of refunding bonds ornotes, the expenses of redeeming bonds or notes being refunded and suchreserves for debt service or other capital or current expenses from theproceeds of the refunding bonds or notes as may be required by a trustagreement or resolution securing bonds or notes. The issue of refunding bondsor notes, the maturities and other details thereof, the security therefor, therights of the holders thereof, and the rights, duties and obligations of thedistrict in respect of the same shall be governed by the provisions of thischapter relating to the issue of bonds or notes other than refunding bonds ornotes insofar as the same may be applicable.