Rhode Island § 46-25-52 § 46-25-52. Security for notes.

Rhode Island Statutes

§ 46-25-52 — § 46-25-52. Security for notes.

Rhode Island·Title 46 Waters and Navigation·Ch. 46-25 Narragansett Bay Commission

§ 46-25-52. Security for notes.
(a) The principal of and interest on any notes issued by the commission may be secured
            by a pledge of the general credit of the commission.
         
(b) Any resolution under which notes of the commission are authorized to be used (and
            any trust indenture established thereby) may contain provisions for vesting in a trustee,
            or paying agent, such properties, rights, powers, and duties in trust as the commission
            may determine.
         

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§ 46-25-52. Security for notes.

(a) The principal of and interest on any notes issued by the commission may be secured by a pledge of the general credit of the commission.

(b) Any resolution under which notes of the commission are authorized to be used (and any trust indenture established thereby) may contain provisions for vesting in a trustee, or paying agent, such properties, rights, powers, and duties in trust as the commission may determine.

Rhode Island § 46-25-52 (§ 46-25-52. Security for notes.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.