Rhode Island § 39-16-14 § 39-16-14. Payments in lieu of taxes.

Rhode Island Statutes

§ 39-16-14 — § 39-16-14. Payments in lieu of taxes.

Rhode Island·Title 39 Public Utilities and Carriers·Ch. 39-16 Kent County Water District

§ 39-16-14. Payments in lieu of taxes.
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 

Free access — add to your briefcase to read the full text and ask questions with AI

§ 39-16-14. Payments in lieu of taxes.

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.

Rhode Island § 39-16-14 (§ 39-16-14. Payments in lieu of taxes.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.