Title 45, Title 45 and Cities

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 securi…

Any holder of bonds issued under the provisions of this chapter, or of any of the coupons appertaining to the bonds, 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 …

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 corporation is authorized to provide for the issuance of refunding bonds of the corporation 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 thereon or interest…

(a) Revenue bonds issued under the provisions of this chapter are not deemed to constitute a debt or a pledge of the faith and credit of the state or the municipality, but are payable solely from the funds provided from revenues. All revenue bonds shall contain on the face a stat…

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

To assure the continued operation and solvency of the corporation for the carrying out of its corporate purposes, the corporation may create and establish one or more special funds ( referred to as “capital reserve funds” in this chapter), and may pay into each capital reserve fu…

(a) It has been widely reported that the United States has need for a detention facility to be located within the state of Rhode Island. (b) It is declared that a need for economic development projects exists within the state and that the development of a detention facility would…

The notes and bonds of the corporation are securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carrying on an insurance business, all banks, bankers, trust …

The state pledges to and agrees with the holders of any bonds or notes issued by the corporation, that the state will not limit or alter the rights vested in the corporation to fulfill the terms of any agreements made with the holders until those bonds or notes, together with the…

Within one hundred twenty (120) days from the close of its fiscal year, the corporation 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 operat…

When all bonds issued under the provisions of the chapter for each specific project and their 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 bondh…

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

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

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

If any one or more sections, clauses, sentences, or parts of this chapter shall, for any reason, be adjudged unconstitutional or otherwise invalid in any court, that judgment shall not affect, impair, or invalidate the remaining provisions, but shall be confined in its operation …

Whenever the context permits in this chapter, the use of the plural includes the singular and the plural, and the use of any gender is deemed to include all genders.

As used in this chapter, the following words and terms have the following meanings, unless the context indicates another or different meaning or intent: (1) “Bonds” means any bonds, interim certificates, notes, debentures, or other evidences of indebtedness of the corporation iss…

In any suit, action, or proceeding involving the validity or enforcement of, or relating to, any contract by, or on behalf of, a corporation, the corporation is exclusively deemed to be established and authorized to transact business and exercise its powers upon proof of the adop…

(a) When the council of a city or town first adopts a resolution as provided for in § 45-54-1, the elected chief executive officer, in cities and towns having a popularly elected chief executive officer, shall appoint five (5) persons, at least three (3) of whom shall be resident…

Except to the extent inconsistent with any specific provision of this chapter, the corporation has the power: (1) To sue and be sued, complain, and defend in its corporate name; (2) To have a seal, which may be altered at pleasure, and to use the seal by causing it or a facsimile…

The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the state and for the facilitation of the conduct of their public business, and as the acquisition, construction, operation, and maintenance by the corporation of the proje…

(a) In order to benefit the people of the municipality and to provide for their general health and welfare through economic development, and to maintain the high standards of a detention facility and public equipment, the corporation is authorized and empowered to acquire and con…

(a) The corporation 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 corporation that the acquisition of the land, or interest, is necessary for the constructio…