Statutes > Rhode Island Statutes > Title 45 - Towns and cities > CHAPTER 45-12 - Indebtedness of Towns and Cities > § 45-12-22.4 - Deficit financing – Approval required.

§ 45-12-22.4 - Deficit financing – Approval required.

SECTION 45-12-22.4

   § 45-12-22.4  Deficit financing –Approval required. – No municipality shall sell a long-term bond in order to fund a deficit withoutprior approval by the state auditor general and director of the statedepartment of revenue.