§ 45-48-11 - Issuance of bonds. - Rhode Island Statutes

SECTION 45-48-11

   § 45-48-11  Issuance of bonds. – For the purpose of raising money to carry out the provisions of this chapter,the district is authorized and empowered to issue bonds under its corporatebond and seal. The bonds of each issue shall be dated, bear interest at a rateor rates, and mature at a time or times not exceeding forty (40) years fromtheir dates of issue, as may be determined by the officers of the district, andmay be made redeemable before maturity at a price or prices and under terms andconditions that may be fixed by the officers of the district prior to the issueof the bonds. The officers of the district shall determine the form of thebonds, including interest coupons to be attached to them, and the manner oftheir execution, and shall fix the denomination or denominations of the bondsand the place or places of payment of the principal and interest, which may beat any bank or trust company within or without the state. The bonds shall bearthe seal of the district or a facsimile of the seal.