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§45-33.2-5  Authorization to undertake projects – Powers. –


Published: 2015

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TITLE 45

Towns and cities

CHAPTER 45-33.2

Tax Increment Financing

SECTION 45-33.2-5



   § 45-33.2-5  Authorization to undertake

projects – Powers. –

Cities and towns are authorized to undertake projects pursuant to duly adopted

project plans. In addition to powers granted under this section or by any other

law, for the purposes of carrying out a project as authorized by this chapter,

a city or town has the following powers:



   (1) To incur indebtedness, and pledge tax increments and

other project revenues for repayment of indebtedness;



   (2) To designate a board or officer of the city or town to be

responsible for administering the project plan;



   (3) To make and enter into all contracts and agreements

necessary in order to carry out the project;



   (4) To receive from the federal government or the state,

loans or grants for or in aid of a project, and to receive contributions from

any other source to defray project costs;



   (5) To purchase or otherwise acquire property or interests in

property therein within or without a project area as the city or town may deem

necessary in order to carry out the project;



   (6) To make relocation payments to persons, businesses, or

organizations that may be displaced as a result of carrying out the project;



   (7) To clear and improve property acquired by it pursuant to

the project plan, and construct public facilities on it, or contract for the

construction, development, redevelopment, rehabilitation, remodeling,

alteration, or repair of the property;



   (8) To cause parks, playgrounds, or schools or water, sewer,

or drainage facilities, or any other public improvements which it otherwise is

authorized to undertake, to be laid out, constructed, or furnished in

connection with the project;



   (9) To lay out and construct, alter, relocate, change the

grade of, make specific repairs upon or discontinue public ways, and construct

sidewalks in or adjacent to the project area;



   (10) To cause private ways, sidewalks, ways for vehicular

travel, playgrounds, or water, sewer, or drainage facilities and similar

improvements to be constructed within the project area for the particular use

of the project area of those dwelling or working in it;



   (11) To adopt ordinances, or repeal or modify ordinances, or

establish exceptions to existing ordinances regulating the design,

construction, and use of buildings;



   (12) To sell, mortgage, lease as lessor, transfer, or dispose

of any property or interest in property acquired by it pursuant to the project

plan for development, redevelopment, or rehabilitation in accordance with the

plan;



   (13) To grant or loan any project revenues, including the

proceeds of any issue of bonds or notes issued pursuant to this chapter to an

individual or any private enterprise, nonprofit organization or governmental or

quasi-governmental entity in order to finance the cost of any portion of a

project authorized under this chapter, including, without limiting the

generality of the preceding, the cost of acquiring land for, and constructing

or rehabilitating and equipping industrial or commercial development

facilities, within the project area in accordance with the plan, or to loan

bond or note proceeds in order to refinance any loans;



   (14) To invest project revenues as provided in §

45-33.2-12; and



   (15) To do all things reasonably necessary or convenient to

carry out the powers granted in this chapter.



History of Section.

(P.L. 1984, ch. 78, § 1; P.L. 1992, ch. 424, § 1.)