Title 45
Towns and Cities

Chapter 33.2
Municipal Tax Increment Financing Act

§ 45-33.2-9. Temporary anticipation notes.

In anticipation of the issue of bonds under this chapter, and subject to any provisions of the vote authorizing the bonds, the officers authorized to sell the bonds may, without further authorization, issue temporary notes. The notes may be secured as in the case of bonds and, except as otherwise provided in this section, the provisions of other sections of this chapter referring to bonds are also deemed to refer to the notes. The notes need not bear the seal of the city or town or a facsimile of the seal. The notes are payable within three (3) years from their respective dates, but the principal of and interest on notes issued for a shorter period may be refunded from time to time by the issue of other notes maturing within three (3) years from the original date of issue of the indebtedness being refunded.