2009 Rhode Island Code
Title 45 - Towns and cities
CHAPTER 45-33 - Redevelopment Financing
§ 45-33-1 - Establishment of revolving fund.
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.
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