Rhode Island § 45-12-25 § 45-12-25. Sale of bonds or notes at a discount.

Rhode Island Statutes

§ 45-12-25 — § 45-12-25. Sale of bonds or notes at a discount.

Rhode Island § 45-12-25

Title 45Towns and cities

Ch. 45-12Indebtedness of Towns and Cities

This text of Rhode Island § 45-12-25 (§ 45-12-25. Sale of bonds or notes at a discount.) 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 § 45-12-25 (2026).

Text

§ 45-12-25. Sale of bonds or notes at a discount.
Notwithstanding any provisions of general or special law enacted prior to January
            1, 1982 which require bonds or notes of cities, towns, or other political subdivisions
            to be sold at not less than par or par and accrued interest, those bonds or notes
            may be sold at a discount. In case of a sale at discount, the discount shall be treated
            as interest paid in advance.
         

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§ 45-12-25. Sale of bonds or notes at a discount.

Notwithstanding any provisions of general or special law enacted prior to January 1, 1982 which require bonds or notes of cities, towns, or other political subdivisions to be sold at not less than par or par and accrued interest, those bonds or notes may be sold at a discount. In case of a sale at discount, the discount shall be treated as interest paid in advance.