Rhode Island Code § 45-12-25

Sale of bonds or notes at a discount
Open in Lexace · Ask the AI about this section
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.

‹ Prev All Rhode Island sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.