§ 42-133-12. Limited power to incur debt.
The corporation and the board have no power to incur debt or obligations or in any way to encumber their assets except by the issuance of bonds, including the making of covenants in relation to the issuing of bonds and the incurring of expenses and obligations in connection with such issuance.
History of Section.P.L. 2002, ch. 65, art. 8, § 1.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-133 - Tobacco Settlement Financing Corporation Act
Section 42-133-1. - Short title.
Section 42-133-3. - Definitions.
Section 42-133-4. - Creation — Powers — Construction of chapter — Termination.
Section 42-133-5. - General powers.
Section 42-133-6. - Board and officers.
Section 42-133-7. - Sale of state’s tobacco receipts.
Section 42-133-9. - Trust funds.
Section 42-133-10. - Exemption from taxation.
Section 42-133-11. - Bankruptcy.
Section 42-133-11.1. - Stay of execution upon appeal.
Section 42-133-12. - Limited power to incur debt.
Section 42-133-13. - Bonds as legal investments.
Section 42-133-14. - Agreement by the state.
Section 42-133-15. - Credit of the state.
Section 42-133-16. - Annual report and audit.
Section 42-133-17. - Attorney general.
Section 42-133-18. - Chapter controlling over inconsistent provisions.