The bonds and notes issued under this chapter are payable solely from project revenues. These bonds and notes shall not at any time be included in the debt of the city or town for the purpose of ascertaining its legal borrowing capacity.
R.I. Gen. Laws § 45-33.2-11
Credit of municipality not pledged
Known as the Municipal Tax Increment Financing Act
The act spans §§ 45–45 (30 sections).
P.L. 1984, ch. 78, § 1.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.