Chapter 12
Indebtedness of Towns and Cities

Index of Sections

§ 45-12-1. Payment of indebtedness.

§ 45-12-2. Maximum aggregate indebtedness.

§ 45-12-2.1. Ministerial approval.

§ 45-12-3. Statements to accompany bills to general assembly to authorize indebtedness.

§ 45-12-4. Borrowing in anticipation of taxes.

§ 45-12-4.1. Borrowing where collection of taxes delayed or taxes refunded.

§ 45-12-4.2. Borrowing in anticipation of federal or state grants.

§ 45-12-4.3. Borrowing in anticipation of water and sewer tax and user charge revenue.

§ 45-12-4.4. Borrowing in payment of certain judgments.

§ 45-12-4.5. Relationship to charters.

§ 45-12-5. Sale of evidences of indebtedness — Annual payments — Terms.

§ 45-12-5.1. Callable bonds.

§ 45-12-5.2. Issuance of refunding bonds to pay outstanding bonds.

§ 45-12-5.3. Debt maturity for United States Department of Agriculture/Rural Development bonds.

§ 45-12-5.4. Cities or towns with a population greater than 125,000 inhabitants — Variable rate obligations and interest exchange agreements.

§ 45-12-5.5. Repealed.

§ 45-12-6. Statutory bond authorizations construed as additional authority.

§ 45-12-7. Sinking fund provisions construed as additions to general sinking fund.

§ 45-12-8. Establishment of general sinking fund — Computation of payments to sinking fund.

§ 45-12-9. Retirement of bonds in sinking fund.

§ 45-12-10. Repealed.

§ 45-12-11. Authority for issuance of indebtedness excess.

§ 45-12-12. City and town boards to authorize duplicate bonds.

§ 45-12-13. Repair or replacement of damaged bond or note.

§ 45-12-14. Replacement of lost or destroyed bond or note — Bond to indemnify city or town.

§ 45-12-15. Contractual debts unimpaired.

§ 45-12-16. Interest rate.

§ 45-12-17. Debt previously approved.

§ 45-12-18. Bond anticipation notes.

§ 45-12-19. Charter provisions as to referendum.

§ 45-12-20. Issuance of bonds authorized by law approved by electors.

§ 45-12-21. Powers of financial town meeting not affected.

§ 45-12-22. Repealed.

§ 45-12-22.1. Municipal deficits — Purpose.

§ 45-12-22.2. Monitoring of financial operations — Corrective action.

§ 45-12-22.3. Year-end deficits.

§ 45-12-22.4. Deficit, pension and other post-employment benefit financing — Approval required.

§ 45-12-22.5. Unbudgeted expenditures.

§ 45-12-22.6. Cooperation of school committees.

§ 45-12-22.7. Enforcement and remedies.

§ 45-12-23. Tax exemption.

§ 45-12-24. Repealed.

§ 45-12-25. Sale of bonds or notes at a discount.

§ 45-12-26. Commercial agreements relating to registered bonds and notes.

§ 45-12-27. Conflict between bond referendum provisions and bond expenditure provisions.

§ 45-12-28. Permitted temporary investments for bond proceeds.

§ 45-12-29. Agreements relating to tax and securities compliance rebate to federal government.

§ 45-12-30. Securing of bonds or notes — Trust agreements.

§ 45-12-31. Extinguishment of authorizations.

§ 45-12-32. Inability to pay interest or principal of bonds, notes or certificates of indebtedness — Notice — Certification to general treasurer — Payment by general treasurer.

§ 45-12-33. Borrowing for road and bridge, infrastructure, and school building projects.