Rhode Island General Laws 45-50-5.3. Evaluation and approval
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Except as stated in this chapter, the board created in chapter 10.1 of Title 42 shall evaluate all proposals for the issuance of bonds, general obligations, and/or revenue, prior to the issuance of the bonds. General obligation bonds and revenue bonds, including any temporary notes sought to be issued in conjunction with this chapter, shall not be issued by any municipal public building authority created after December 31, 1988, without the prior approval of the board.
History of Section.
P.L. 1989, ch. 466, § 2.
Terms Used In Rhode Island General Laws 45-50-5.3
- authority: means any municipal public buildings authority created pursuant to this chapter, or, if the authority is abolished, the board, body, or commission succeeding to the principal functions or upon whom the powers of the authority given by this chapter are given by law. See Rhode Island General Laws 45-50-9
- bonds: means and includes the notes, bonds, and other evidences of indebtedness or obligations which the authority is authorized to issue pursuant to this chapter. See Rhode Island General Laws 45-50-9
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.