Statutes > Rhode Island Statutes > Title 45 - Towns and cities > CHAPTER 45-33.2 - Tax Increment Financing > § 45-33.2-11 - Credit of municipality not pledged.

§ 45-33.2-11 - Credit of municipality not pledged.

SECTION 45-33.2-11

   § 45-33.2-11  Credit of municipality notpledged. – The bonds and notes issued under this chapter are payable solely from projectrevenues. These bonds and notes shall not at any time be included in the debtof the city or town for the purpose of ascertaining its legal borrowingcapacity.