Rhode Island § 45-12-29 - Indebtedness of Towns and Cities
Full text of Rhode Island Rhode Island General Laws § 45-12-29 — Indebtedness of Towns and Cities, with citation guidance and answers to common questions.
§ 45-12-29. Indebtedness of Towns and Cities
R.I. Gen. Laws § 45-12-29
§ 45-12-29. Agreements relating to tax and securities compliance rebate to federal government.
Notwithstanding any contrary provision of general or special law, cities, towns and other political subdivisions of this state may enter into agreements to comply with federal tax and securities laws and may rebate to the United States Treasury from available sources, any income from investments (including gains from the disposition of investments) of proceeds of bonds or notes to the extent deemed necessary to exempt (in whole or in part) the interest paid on the bonds or notes from federal income taxation. The term of any such agreement may extend to a date six (6) years after the final maturity of the bonds or notes to which the agreement relates.
History of Section.
P.L. 1986, ch. 110, § 1; P.L. 2007, ch. 252, § 1; P.L. 2007, ch. 292, § 1.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 45-12-29
What does Rhode Island General Laws § 45-12-29 cover?
Section 45-12-29 ("Indebtedness of Towns and Cities") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 45-12-29?
A common citation format is "Rhode Island General Laws § 45-12-29" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 45-12-29 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.