§ 45-25-30. Payments in lieu of local property tax. The property of an authority is exempt from all local and municipal taxes. An authority shall pay to the city a sum fixed annually by the city. A city may:
(1) Fix a sum to be paid to it annually by an authority in respect of each project; or
(2) Agree that an authority not pay or be liable to pay any sum whatsoever in respect of a project or projects for any year or years; or
(3) Agree with an authority or government upon the sum to be paid by the authority for any year or years in respect of a project or projects, or accept or agree to accept a fixed sum or other consideration in lieu of the payment.
History of Section. (P.L. 1935, ch. 2255, § 25; G.L. 1938, ch. 344, § 25; P.L. 1950, ch. 2620, § 1; G.L. 1956, § 45-25-30.)
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