Rhode Island § 45-12-28 § 45-12-28. Permitted temporary investments for bond proceeds.

Rhode Island Statutes

§ 45-12-28 — § 45-12-28. Permitted temporary investments for bond proceeds.

Rhode Island § 45-12-28

Title 45Towns and cities

Ch. 45-12Indebtedness of Towns and Cities

This text of Rhode Island § 45-12-28 (§ 45-12-28. Permitted temporary investments for bond proceeds.) 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 § 45-12-28 (2026).

Text

§ 45-12-28. Permitted temporary investments for bond proceeds.
Notwithstanding any contrary provision of general or special law, towns and cities
            may invest proceeds of any bond or note available during the period before those proceeds
            are needed for the purpose for which the bonds or notes were issued, in investments
            described in § 35-10-11. A city council or town council may adopt an ordinance or resolution limiting the
            permitted investments under § 35-10-11 to investments meeting specified standards of creditworthiness.
         

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§ 45-12-28. Permitted temporary investments for bond proceeds.

Notwithstanding any contrary provision of general or special law, towns and cities may invest proceeds of any bond or note available during the period before those proceeds are needed for the purpose for which the bonds or notes were issued, in investments described in § 35-10-11. A city council or town council may adopt an ordinance or resolution limiting the permitted investments under § 35-10-11 to investments meeting specified standards of creditworthiness.