§ 42-44.1-7 Temporary notes. – (a) The general treasurer is hereby authorized and empowered, with the approvalof the governor, and in accordance with the provisions of this chapter, toborrow upon temporary notes issued in anticipation of the issuance of bonds,from time to time, in the name and behalf of the state, sums of money for thepurposes set forth in §§ 42-44.1-3 and 42-44.1-5 hereof.
(b) The notes shall be signed by the general treasurer andcountersigned by the secretary of state and shall be issued at such time ortimes in such amounts, at such rates of interest, and with such provisions ofrepayment, with or without premium, acceleration, and other terms, as may befixed by the general treasurer, with the approval of the governor.
(c) The notes may be issued from time to time for periods notexceeding two (2) years and may be refunded or renewed from time to time by theissue of other notes for periods not exceeding two (2) years, but the notes,including all refundings and renewals thereof, shall bear maturity dates notlater than five (5) years from the date of each original issue. The total sumof the terms of the notes plus the term of the bonds, which the issuance of thenotes anticipate, shall not exceed twenty-five (25) years in duration.
(d) The proceeds of the sale of the notes, inclusive of anypremiums and any accrued interest which may be received from the sale thereof,shall be applied to the purposes for which the notes are issued and shall bedeposited by the general treasurer in the account described in § 42-44.1-6.
§ 42-44.1-7 Temporary notes. – (a) The general treasurer is hereby authorized and empowered, with the approvalof the governor, and in accordance with the provisions of this chapter, toborrow upon temporary notes issued in anticipation of the issuance of bonds,from time to time, in the name and behalf of the state, sums of money for thepurposes set forth in §§ 42-44.1-3 and 42-44.1-5 hereof.
(b) The notes shall be signed by the general treasurer andcountersigned by the secretary of state and shall be issued at such time ortimes in such amounts, at such rates of interest, and with such provisions ofrepayment, with or without premium, acceleration, and other terms, as may befixed by the general treasurer, with the approval of the governor.
(c) The notes may be issued from time to time for periods notexceeding two (2) years and may be refunded or renewed from time to time by theissue of other notes for periods not exceeding two (2) years, but the notes,including all refundings and renewals thereof, shall bear maturity dates notlater than five (5) years from the date of each original issue. The total sumof the terms of the notes plus the term of the bonds, which the issuance of thenotes anticipate, shall not exceed twenty-five (25) years in duration.
(d) The proceeds of the sale of the notes, inclusive of anypremiums and any accrued interest which may be received from the sale thereof,shall be applied to the purposes for which the notes are issued and shall bedeposited by the general treasurer in the account described in § 42-44.1-6.
§ 42-44.1-7 Temporary notes. – (a) The general treasurer is hereby authorized and empowered, with the approvalof the governor, and in accordance with the provisions of this chapter, toborrow upon temporary notes issued in anticipation of the issuance of bonds,from time to time, in the name and behalf of the state, sums of money for thepurposes set forth in §§ 42-44.1-3 and 42-44.1-5 hereof.
(b) The notes shall be signed by the general treasurer andcountersigned by the secretary of state and shall be issued at such time ortimes in such amounts, at such rates of interest, and with such provisions ofrepayment, with or without premium, acceleration, and other terms, as may befixed by the general treasurer, with the approval of the governor.
(c) The notes may be issued from time to time for periods notexceeding two (2) years and may be refunded or renewed from time to time by theissue of other notes for periods not exceeding two (2) years, but the notes,including all refundings and renewals thereof, shall bear maturity dates notlater than five (5) years from the date of each original issue. The total sumof the terms of the notes plus the term of the bonds, which the issuance of thenotes anticipate, shall not exceed twenty-five (25) years in duration.
(d) The proceeds of the sale of the notes, inclusive of anypremiums and any accrued interest which may be received from the sale thereof,shall be applied to the purposes for which the notes are issued and shall bedeposited by the general treasurer in the account described in § 42-44.1-6.
