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§45-33-1  Establishment of revolving fund. –

Published: 2015

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Towns and cities


Redevelopment Financing

SECTION 45-33-1

   § 45-33-1  Establishment of revolving fund.


The legislative body of any community, at any time after it has adopted a

resolution declaring that there is a need for an agency to function in the

community, may establish a redevelopment revolving fund. For the purpose of

raising moneys to be deposited in that fund, the community may appropriate tax

money or other funds, and/or issue and sell its general obligation or revenue

bonds, and the moneys shall be used to effectuate the purposes and the

provisions of chapters 31 – 33 of this title, upon resolution of the

legislative body.

History of Section.

(P.L. 1956, ch. 3654, § 41; G.L. 1956, § 45-33-1.)