Rhode Island General Laws 45-27-5. Interim certificates and temporary obligations
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Pending the authorization, preparation, execution, or delivery of definitive bonds, the authority may issue interim certificates, or other temporary obligations to the purchaser of those bonds. The interim certificates, or other temporary obligations, shall be in a form, contain terms, conditions and provisions, bear a date or dates, and evidence agreements relating to their discharge or payment or the delivery of definitive bonds, as the authority may by resolution, trust indenture, or mortgage determine.
History of Section.
P.L. 1935, ch. 2255, § 14; G.L. 1938, ch. 344, § 14; G.L. 1956, § 45-27-5.
Terms Used In Rhode Island General Laws 45-27-5
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.