Interest rate on promissory notes--Signature of notes

The rate of interest shall be stated on the note authorized by § 9-25-12 . The notes shall be signed by the chief executive officer of the municipality and by the municipal finance officer. Source: SL 1978, ch 63 , § 4; SL 1981, ch 71 . 9-25-16 . Cash receipts applied to payment of notes until retired. If a note authorized by § 9-25-12 has been issued and not paid in full within the term provided in § 9-25-12 , then thereafter no cash receipts may be expended for any purpose except the retirement of principal and interest of notes outstanding against that fund, until all such notes are retired. Source: SL 1978, ch 63 , § 5; SL 1983, ch 62 , § 2; SL 1991, ch 73 , § 3.