§ 39-16-14. Payments in lieu of taxes.
The authority shall pay annually, having first made provision for the payment of principal and interest on any bonds outstanding and any other charges payable from revenues due in such year as may be provided in the resolution or resolutions authorizing any bonds, in lieu of any property tax, as a charge upon its earnings or revenues, to each city, town, or district, a sum equal in amount to any property tax levied on any property by or on behalf of the city, town, or district during the year next preceding the acquisition of such property by the authority. The authority shall have no power to levy or collect ad valorem property taxes.
History of Section.P.L. 1946, ch. 1740, § 5; G.L. 1956, § 39-16-14.
Structure Rhode Island General Laws
Title 39 - Public Utilities and Carriers
Chapter 39-16 - Kent County Water District
Section 39-16-1. - Definitions.
Section 39-16-2. - District created.
Section 39-16-3. - Board created.
Section 39-16-4. - Composition of board.
Section 39-16-5. - Officers and employees of board.
Section 39-16-6. - Compensation of members and agents.
Section 39-16-7. - Business prohibited to members.
Section 39-16-8. - Powers of authority.
Section 39-16-9. - Application of public utility law — Rate determination.
Section 39-16-10. - Power to issue bonds — Pledge of revenues.
Section 39-16-11. - Terms and sale of bonds — Refunding.
Section 39-16-12. - Covenants permissible in bond resolution.
Section 39-16-13. - Tax exemption.
Section 39-16-14. - Payments in lieu of taxes.
Section 39-16-15. - Pledge not to alter rights of authority.
Section 39-16-16. - Bonds as legal investments.
Section 39-16-17. - Money of authority.
Section 39-16-18. - Right to alter, amend, or repeal chapter.
Section 39-16-19. - Severability.
Section 39-16-20. - Supplementary powers.