§ 44-35-2 - Purpose.
SECTION 44-35-2
§ 44-35-2 Purpose. – The purpose of this chapter is to:
(1) Establish a procedure under which towns and cities maylevy property taxes;
(2) Provide for full disclosure of the effect of rate andbase changes on property tax revenues;
(3) Establish a procedure for public hearings on proposedbudgets;
(4) Require municipalities to adopt a balanced budget; and
(5) Provide for fiscal oversight of municipalities incurringan operating deficit or an accumulated deficit in the preceding fiscal year.