§ 46-25-39 Temporary notes. – (a) The general treasurer is hereby authorized and empowered, with the approvalof the governor, and in accordance with provisions of this chapter, to borrowupon temporary notes issued in anticipation of the issuance of the bonds, fromtime to time, in the name and behalf of the state, sums of money for thepurposes set forth in § 46-25-4.
(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, with such provisions ofprepayment, 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, bythe issue of other notes for periods not exceeding two (2) years, but thenotes, including all refundings and renewals thereof, shall bear maturity datesnot later than five (5) years from the date of each original issue. The totalsum of the terms of the notes plus the term of the bonds, which the issuance ofthe notes 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 § 46-25-38.
§ 46-25-39 Temporary notes. – (a) The general treasurer is hereby authorized and empowered, with the approvalof the governor, and in accordance with provisions of this chapter, to borrowupon temporary notes issued in anticipation of the issuance of the bonds, fromtime to time, in the name and behalf of the state, sums of money for thepurposes set forth in § 46-25-4.
(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, with such provisions ofprepayment, 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, bythe issue of other notes for periods not exceeding two (2) years, but thenotes, including all refundings and renewals thereof, shall bear maturity datesnot later than five (5) years from the date of each original issue. The totalsum of the terms of the notes plus the term of the bonds, which the issuance ofthe notes 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 § 46-25-38.
§ 46-25-39 Temporary notes. – (a) The general treasurer is hereby authorized and empowered, with the approvalof the governor, and in accordance with provisions of this chapter, to borrowupon temporary notes issued in anticipation of the issuance of the bonds, fromtime to time, in the name and behalf of the state, sums of money for thepurposes set forth in § 46-25-4.
(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, with such provisions ofprepayment, 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, bythe issue of other notes for periods not exceeding two (2) years, but thenotes, including all refundings and renewals thereof, shall bear maturity datesnot later than five (5) years from the date of each original issue. The totalsum of the terms of the notes plus the term of the bonds, which the issuance ofthe notes 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 § 46-25-38.
