Rhode Island § 42-64-24 § 42-64-24. State's right to require redemption of bonds.

Rhode Island Statutes

§ 42-64-24 — § 42-64-24. State's right to require redemption of bonds.

Rhode Island § 42-64-24

Title 42State Affairs and Government

Ch. 42-64Rhode Island Commerce Corporation

This text of Rhode Island § 42-64-24 (§ 42-64-24. State's right to require redemption of bonds.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 42-64-24 (2026).

Text

§ 42-64-24. State's right to require redemption of bonds.
Notwithstanding and in addition to any provisions for the redemption of bonds that
            may be contained in any contract with the holders of the bonds, the state may, upon
            furnishing sufficient funds, require the corporation to redeem, prior to maturity,
            as a whole, any issue of bonds on any interest payment date not less than twenty (20)
            years after the date of the bonds of the issue at one hundred five percent (105%)
            of their face value and accrued interest or at any lower redemption price as may be
            provided in the bonds in case of the redemption of the bonds as a whole on the redemption
       

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§ 42-64-24. State's right to require redemption of bonds.

Notwithstanding and in addition to any provisions for the redemption of bonds that may be contained in any contract with the holders of the bonds, the state may, upon furnishing sufficient funds, require the corporation to redeem, prior to maturity, as a whole, any issue of bonds on any interest payment date not less than twenty (20) years after the date of the bonds of the issue at one hundred five percent (105%) of their face value and accrued interest or at any lower redemption price as may be provided in the bonds in case of the redemption of the bonds as a whole on the redemption date. Notice of the redemption shall be published at least twice in at least two (2) newspapers publishing and circulating respectively in the cities of Providence, Rhode Island, and New York, New York, the first publication to be at least thirty (30) days before the date of redemption.