Title 45, Title 45 and Cities

(a) The authority has the right to acquire any land, or any interest in it, including development rights, by the exercise of the power of eminent domain, whenever it is determined by the authority that the acquisition of the land, or interest, is necessary for the construction or…

(a) The authority is authorized to provide by resolution for the issuance, at one time, or from time to time, of revenue bonds of the authority for the purpose of paying all or a part of the cost of any one or more projects, the construction or acquisition of which is authorized …

In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the st…

(a) The authority is authorized and empowered to fix, revise, and collect from time to time, subject to the provisions of this chapter, fees, rentals, and other charges for the use of projects of, or the services rendered by, the authority to pay: (1) The cost of maintaining, rep…

All moneys received pursuant to the provisions of this chapter, whether as proceeds from the sale of bonds or as revenues, are deemed to be trust funds to be held and applied as may be provided in the resolution authorizing the issuance of the bonds or the trust agreement securin…

Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining to them, and the trustee under the trust agreement or the resolution, except to the extent the rights given by this chapter may be restricted by the trust agreement or the resolutio…

The exercise of the powers granted by this chapter are, in all respects, for the benefit of the people of the municipality and the state of Rhode Island and for the facilitation of the conduct of their public business; and as the acquisition, construction, operation, and maintena…

There is created in each city and town a body corporate and politic known as the municipal public buildings authority of the municipality, which is an instrumentality and agency of the city or town, but has a distinct legal existence from the city or town.

Bonds issued by the authority under the provisions of this chapter are made securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, credit unions, …

Notwithstanding any of the preceding provisions of this chapter or any recitals in any bonds issued under the provisions of this chapter, all bonds are deemed to be negotiable instruments under the laws of this state.

The authority is authorized to provide for the issuance of refunding bonds of the authority for the purpose of refunding any bonds then outstanding which have been issued under the provisions of this chapter, including the payment of any redemption premium or interest accrued or …

The use of the facilities of the authority and the operation of its business are subject to the rules and regulations from time to time adopted by the authority; provided, that the authority not authorized to do anything which will impair the security of the holders of the obliga…

The state pledges to and agrees with any person, firm, or corporation, or federal agency subscribing to or acquiring the bonds to be issued by the authority for the construction, extension, improvement, equipping, furnishing, or enlargement of any project or part of it, that the …

Any action taken by the authority under the provisions of this chapter may be authorized by resolution at any regular or special meeting, and each resolution shall take effect immediately and need not be published or posted.

Within one hundred twenty (120) days from the close of its fiscal year, the authority shall make an annual report to the chief executive officer and legislative body of the municipality of its activities for the preceding fiscal year. Each report shall present a complete operatin…

When all bonds issued under the provisions of the chapter for each specific project and its interest have been paid, or a sufficient amount for the payment of all the bonds and their interest to the maturity of the bonds have been set aside in trust for the benefit of the bondhol…

Insofar as the provisions of this chapter are inconsistent with the provisions of any charter or other laws or ordinances, general, special, or local, or of any rule or regulation of the state or any municipality, the provisions of this chapter are controlling.

This chapter shall be construed to provide a complete, additional, and alternative method for doing the things authorized by this chapter, and shall be regarded as supplemental and in addition to the powers conferred by other laws. The issuance of all bonds, notes, and other obli…

(a) It is declared that a need exists to authorize all municipalities which issue significant amounts of general obligation debt or which have large operating budgets to possess powers enabling the implementation of alternative financing techniques. (b) This chapter applies to an…

This chapter being necessary for the welfare of the state and its inhabitants shall be liberally construed in order to effectuate its purposes.

The provisions of this chapter are severable, and if any of its provisions are held unconstitutional or invalid for any other reason by any court of competent jurisdiction, the decision of the court shall not affect or impair any of the remaining provisions. In carrying out the p…

In any suit, action, or proceeding involving the validity or enforcement of, or relating to any contract by or on behalf of an authority, the authority shall be conclusively deemed to have become established and authorized to transact business and exercise its powers upon proof o…

When the council of a city or town first adopts a resolution as provided for in § 45-50-3, the elected chief executive officer, in cities and towns having a popularly elected chief executive officer, shall appoint five (5) resident electors of the city or town as members of the a…

The authority and its members are under a statutory duty to comply or to cause compliance strictly with all provisions of this title and the laws of the state, and in addition thereto, with each and every term, provision, and covenant in any contract of the authority on its part …

No member or employee of an authority shall acquire any direct interest in any project or in any property included or planned to be included in any project, nor shall he or she have any direct or indirect interest in any contract or proposed contract for materials or services to …

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 not…

The members who are first appointed shall be designated to serve for terms of one, two (2), three (3), four (4), and five (5) years, respectively. Thereafter, members shall be appointed as aforesaid for a term of office of five (5) years, except that all vacancies occurring durin…

The authority shall elect one of its members as chairperson and another as vice chairperson and shall also elect a secretary and a treasurer. Three (3) members of the authority constitutes a quorum and the vote of three (3) members is necessary for any action taken by the authori…

The members shall receive no compensation for the performance of their duties under this chapter, but each member shall be reimbursed for his or her reasonable expenses incurred in carrying out his or her duties under this chapter.

As used in this chapter, the following words and terms have the following meanings, unless the context indicates another or different meaning: (1) The word “authority” means any municipal public buildings authority created pursuant to this chapter, or, if the authority is abolish…