Rhode Island General Laws 39-16-14. Payments in lieu of taxes
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The authority shall pay annually, having first made provision for the payment of principal and interest on any bonds outstanding and any other charges payable from revenues due in such year as may be provided in the resolution or resolutions authorizing any bonds, in lieu of any property tax, as a charge upon its earnings or revenues, to each city, town, or district, a sum equal in amount to any property tax levied on any property by or on behalf of the city, town, or district during the year next preceding the acquisition of such property by the authority. The authority shall have no power to levy or collect ad valorem property taxes.
History of Section.
P.L. 1946, ch. 1740, § 5; G.L. 1956, § 39-16-14.
Terms Used In Rhode Island General Laws 39-16-14
- Authority: means the corporation created by § 39-16-3. See Rhode Island General Laws 39-16-1
- Bonds: means the bonds, notes, or other obligations issued by the authority pursuant to this chapter. See Rhode Island General Laws 39-16-1
- District: means the Kent County water district. See Rhode Island General Laws 39-16-1
- Property: means any or all of the properties of any water supply and distribution system or part thereof, including plants, works, and instrumentalities, and all properties used or useful in connection therewith, and all parts thereof and all appurtenances thereto, including lands, easements, rights in land and water rights, rights-of-way, contract rights, franchises, approaches, connections, dams, reservoirs, water mains and pipelines, pumping stations and equipment, or any other property incidental to and included in the system or part thereof situated within or without the district. See Rhode Island General Laws 39-16-1
- town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9