§ 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 corporate bond and seal. The bonds of each issue shall be dated, bear interest at a rate or rates, and mature at a time or times not exceeding forty (40) years from their dates of issue, as may be determined by the officers of the district, and may be made redeemable before maturity at a price or prices and under terms and conditions that may be fixed by the officers of the district prior to the issue of the bonds. The officers of the district shall determine the form of the bonds, including interest coupons to be attached to them, and the manner of their execution, and shall fix the denomination or denominations of the bonds and the place or places of payment of the principal and interest, which may be at any bank or trust company within or without the state. The bonds shall bear the seal of the district or a facsimile of the seal.
History of Section.
P.L. 1987, ch. 20, § 2.