Title 45, Title 45 and Cities

Whenever the board is satisfied that any bond or note of the city or town has been lost or destroyed, the board may upon payment to it by the owner or holder of the bond or note, of a sum that it deems necessary to cover the actual expense involved and under such regulations and …

Nothing in this chapter shall exempt a city or town from its liability to pay debts contracted for purposes for which it may lawfully expend money.

Any provisions of general or special law enacted prior to February 21, 1970, which limit the rate of interest to be paid on any bonds or other evidences of indebtedness of a city, town, or other political subdivision are repealed.

Whenever the provisions of § 45-12-16 operate to repeal a limitation on the interest rate which may be paid on any issue of bonds or other evidences of indebtedness approved by the qualified voters of any city, town, or other political subdivision, no further approval of the issu…

A city or town, acting by resolution of its city council or town council, after approval of the issue of bonds by vote of the qualified electors of the city or town if approval is required, may authorize the issue from time to time of notes in anticipation of the issue of bonds a…

The charter of any city or town may provide that the issuance of bonds, notes or other evidences of indebtedness of the city or town be by ordinance or by resolution after the issuance of the bonds, notes or other evidences of indebtedness of the city or town have been authorized…

Except as provided in § 45-12-11, no city or town shall, without special statutory authority, or ministerial approval as provided for in § 45-12-2.1 incur any debt for money borrowed which would increase its aggregate outstanding principal indebtedness not excepted by law from th…

Effective January 1, 2008, a city or town shall have authority to incur debt for money borrowed, through the issuance of bonds, if such application for approval of bonds is approved by the auditor general as described below, as meeting all of the following standards: (1) The city…

Whenever a general or special law which authorizes the issuance of bonds, notes or other evidences of indebtedness has become effective upon acceptance or approval by the electors of a city or town, such law shall be effective notwithstanding any failure or defect in the posting …

Sections 45-12-19 and 45-12-20 shall not apply in any way to the powers or authorities of any town exercised or exercisable in financial town meeting.

The purpose of §§ 45-12-22.1 — 45-12-22.5 are to ensure that municipalities and school districts monitor financial operations on an ongoing basis, execute a rapid response to budget problems, and maintain a balanced budget in compliance with § 44-35-10. It is the intent of the le…

Subsections (a) through (h) below shall apply to cities and towns. (a) The chief financial officer of each municipality and each school district within the state shall continuously monitor financial operations by tracking actual versus budgeted revenue and expense. (b) The chief …

(a) If, at the end of any fiscal year, the chief financial official determines, based on available data, that it is likely the city or town’s general fund or combined general fund and unrestricted school special revenue fund will incur a deficit, the municipality must notify the …

(a) Except as provided in chapter 9 of this title, no municipality shall sell a long-term bond in order to fund a deficit or to fund pension obligations or other post-employment benefits without prior approval by the state auditor general and director of the state department of r…

A municipality shall not incur expenditures nor obligate the municipality to expend unbudgeted amounts in excess of one hundred thousand dollars ($100,000) without first notifying the city or town council of such proposed expenditure and identifying the source of funding. Further…

School committees, boards, or regional school districts that are independent governmental entities within a municipality shall cooperate in providing to the chief financial officer all information needed to formulate the reports and the deficit elimination plan required under thi…

In the event that a municipality does not comply with the requirements of this law the state auditor general or the division of municipal finance through the director of revenue may elect any or all of the following remedies: (1) Petition the superior court for mandatory injuncti…

The income from any bonds, notes, certificates, or other evidences of indebtedness issued by any city, town, or other political subdivision, under the provisions of this chapter or any other general or special law, shall at all times be free from taxation by the state or any poli…

Notwithstanding any provisions of general or special law enacted prior to January 1, 1982 which require bonds or notes of cities, towns, or other political subdivisions to be sold at not less than par or par and accrued interest, those bonds or notes may be sold at a discount. In…

In connection with the issuance by a city, town, or other political subdivision of this state of original or replacement bonds or notes in registered form, the treasurer of the city, town, or other political subdivision, with the approval of any other officers authorized to sign …

Notwithstanding the provisions of any general or special law with respect to the issuance of bonds or the expenditure of money by a city or town which provided that it became effective only upon approval by the majority of electors voting on these provisions, wherever the provisi…

Notwithstanding any contrary provision of general or special law, towns and cities may invest proceeds of any bond or note available during the period before those proceeds are needed for the purpose for which the bonds or notes were issued, in investments described in § 35-10-11…

Notwithstanding any contrary provision of general or special law, cities, towns and other political subdivisions of this state may enter into agreements to comply with federal tax and securities laws and may rebate to the United States Treasury from available sources, any income …

Whenever any bill is presented to either house of the general assembly to authorize any city or town to issue bonds or other indebtedness, every such bill shall be accompanied by a resolution or ordinance of the city or town council to the general assembly stating the purpose for…

(a) Bonds or notes issued by a city or town may be secured in whole or in part by insurance or by letters or lines of credit or other credit facilities. This insurance, letter, or line of credit or credit facility may provide for reimbursement to be made over period of time, not …

All or any portion of the authority to issue bonds pursuant to a resolution or ordinance passed by a city or town council or pursuant to a special act passed by the general assembly may be extinguished by ordinance of the city or town council, without further action by the genera…

(a) If it appears to the treasurer or finance director of a city, town or district, including a regional school district, that the city, town or district is, or is likely to be, unable to pay in whole or in part the principal or interest, or both, on any of its bonds, notes or ce…

(a)(1) In addition to other authority previously granted, during calendar year 2014 a city or town may authorize the issuance of bonds, notes, or other evidences of indebtedness to evidence loans from the municipal road and bridge revolving fund administered by the Rhode Island i…

Any city or town by resolution of its city or town council may borrow money in each financial year in anticipation of the receipt of the proceeds of the annual tax due or to become due in that financial year upon the taxable property within the city or town, an amount which, toge…

(a) Notwithstanding any provision of § 45-12-4 to the contrary, a city or town by resolution of its city council or town council, may authorize the issue of notes of the city or town in order to pay any outstanding tax anticipation notes or other obligations of the city or town w…

A city or town may contract for and accept grants of federal or state aid for any purpose for which it is authorized to appropriate money. A city or town, by resolution of its city council or town council, may authorize the issue of notes in anticipation of the receipt of federal…

Any city or town, by resolution of its city or town council, may authorize the issuance of notes in any fiscal year in anticipation of the receipt of water and sewer tax and user charge revenues, in a principal amount which, together with any money borrowed in anticipation of the…

(a) A city or town may authorize the issuance of bonds, notes, or other evidences of indebtedness to pay the uninsured portion of any court judgment or settlement, except any court judgment or settlement arising out of any pension obligation of a city or town; provided, however, …

Any city or town is authorized to issue debt by resolution under and in accordance with the procedures of §§ 45-12-4, 45-12-4.1, 45-12-4.2, 45-12-4.3, 45-12-4.4 and 45-12-5.2 notwithstanding any provision of its charter to the contrary.

(a) A city or town which has authorized the borrowing of money under the provisions of this chapter may sell the bonds, notes, or other evidence of the indebtedness authorized at public or private sale, or may use these in payment of its debts. The bonds of each issue may be issu…

(a) Bonds issued by any cities, towns or other political subdivisions of this state may be issued subject to call and prepayment prior to their stated maturities at the option of the issuer. All, or less than all, of the bonds comprising an issue may be subject to call simultaneo…

(a) Any city, town or political subdivision of this state may issue refunding bonds in order to pay all or any designated part of an issue of outstanding bonds, including principal, redemption premium, if any, interest on the outstanding bonds coming due on or prior to the date o…

Notwithstanding any contrary provisions of this chapter, or any other general or special law or provision of any municipal charter, bonds issued by a city or town which are purchased by the United States of America, acting through the United States Department of Agriculture/Rural…

(a) In connection with the issuance of duly authorized bonds, notes or other obligations of a city or town with a population greater than one hundred twenty-five thousand (125,000) inhabitants, notwithstanding any other authority to the contrary, such bonds, notes or other obliga…

All acts enacted authorizing cities or towns to issue bonds shall be construed as granting authority in addition to, and not in substitution for, authority previously granted.

Whenever in any general law, public law, act, or resolution of the general assembly, authority has been given to a city or town for the issuance of bonds, and provision has been made for the establishment of a sinking fund to extinguish the debt at its maturity, that provision sh…

In lieu of establishing a separate sinking fund for each bond issue, a city or town may, by vote of the town council or city council, provide for the establishment of a general sinking fund, and thereafter the town treasurer or city treasurer shall annually, on the anniversary of…

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 …