§ 45-27-3. Authorization, form, and terms of bonds. The bonds of the authority are authorized by its resolution, and issued in one or more series, and bearing a date or dates, maturing at a time or times (not exceeding sixty (60) years from their respective dates), bearing interest at a rate or rates (not exceeding six percent (6%) per annum payable semiannually), in denominations (which may be made interchangeable), in forms, either coupon or registered, carrying registration privileges, executed in a manner, payable in a medium of payment, at a place or places, and subject to any terms of redemption (with or without premium) that the resolution or its trust indenture or mortgage may provide.
History of Section. (P.L. 1935, ch. 2255, § 14; G.L. 1938, ch. 344, § 14; G.L. 1956, § 45-27-3.)
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