Rhode Island General Laws 45-12-7. Sinking fund provisions construed as additions to general sinking fund
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Whenever in any general law, public law, act, or resolution of the general assembly, authority has been given to a city or town for the issuance of bonds, and provision has been made for the establishment of a sinking fund to extinguish the debt at its maturity, that provision shall be construed to mean an addition to the general sinking fund of the city or town for the redemption of the bonds of the respective city or town at their maturities as provided in this chapter.
History of Section.
P.L. 1935, ch. 2211, § 1; G.L. 1938, ch. 329, § 20; G.L. 1956, § 45-12-7.
Terms Used In Rhode Island General Laws 45-12-7
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- 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