Rhode Island General Laws 45-12-9. Retirement of bonds in sinking fund
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Whenever a city or town has purchased any of its own outstanding bonds for investment in its sinking fund, the city or town may at the option of the sinking fund commission, if any, or by vote of the town council or city council, retire and permanently cancel the bonds, and upon that retirement all interest payments on the cancelled bonds shall cease.
History of Section.
P.L. 1935, ch. 2211, § 3; G.L. 1938, ch. 329, § 22; G.L. 1956, § 45-12-9.
Terms Used In Rhode Island General Laws 45-12-9
- town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
- town council: include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9