§ 45-12-25 - Sale of bonds or notes at a discount.
SECTION 45-12-25
§ 45-12-25 Sale of bonds or notes at adiscount. – Notwithstanding any provisions of general or special law enacted prior toJanuary 1, 1982 which require bonds or notes of cities, towns, or otherpolitical subdivisions to be sold at not less than par or par and accruedinterest, those bonds or notes may be sold at a discount. In case of a sale atdiscount, the discount shall be treated as interest paid in advance.