(a)  Unless at any time prior to or at original issuance of a registered public obligation the official or official body of the issuer determines otherwise, this chapter shall be applicable to that registered public obligation notwithstanding any provision of law to the contrary. When this chapter is applicable, no contrary provision shall apply.

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Terms Used In Rhode Island General Laws 35-13-12

  • Issuer: means a public entity which issues an obligation. See Rhode Island General Laws 35-13-2
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Obligation: means an agreement of a public entity to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in that agreement. See Rhode Island General Laws 35-13-2
  • Official or official body: means :

    (i)  The officer or board that is empowered under the laws of one or more states, including this state, to provide for original issuance of an obligation of the issuer, by defining the obligation and its terms, conditions, and other incidents;

    (ii)  The successor or successors of the official or official body; and

    (iii)  Such other person or group of persons as shall be assigned duties of the official or official body with respect to a registered public obligation under applicable law from time to time. See Rhode Island General Laws 35-13-2

  • Registered public obligations: means an obligation issued by a public entity pursuant to a system of registration. See Rhode Island General Laws 35-13-2

(b)  Nothing in this chapter limits or prevents the issuance of obligations in any other form or manner authorized by law.

(c)  Unless determined otherwise pursuant to subsection (a), the provisions of this chapter shall be applicable with respect to obligations which have, prior to May 18, 1983, been approved by vote, referendum, or hearing, authorizing or permitting the authorization of obligations in bearer and registered form, or in bearer form only, and these obligations need not be resubmitted for a further vote, referendum, or hearing, for the purpose of authorizing or permitting the authorization of registered public obligations pursuant to this chapter.

History of Section.
P.L. 1983, ch. 267, § 1.