§ 44-35-2. Purpose. The purpose of this chapter is to:
(1) Establish a procedure under which towns and cities may levy property taxes;
(2) Provide for full disclosure of the effect of rate and base changes on property tax revenues;
(3) Establish a procedure for public hearings on proposed budgets;
(4) Require municipalities to adopt a balanced budget; and
(5) Provide for fiscal oversight of municipalities incurring an operating deficit or an accumulated deficit in the preceding fiscal year.
History of Section. (P.L. 1979, ch. 298, § 1; P.L. 1981, ch. 297, § 1.)
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