Rhode Island General Laws Title 45. Towns and Cities § 45-38.1-7. General Laws Title to project

When the principal of and interest on bonds of the corporation issued to finance the cost of a particular project or projects for a participating institution for higher education or for a participating municipality or a participating child daycare center or for a participating healthcare provider, including any refunding bonds or notes issued to refund and refinance the bonds or notes, have been fully paid and retired, or when adequate provision has been made to fully pay and retire the bonds or notes, and all other conditions of the resolution or trust agreement authorizing and securing the bonds or notes have been satisfied and the lien of the resolution or trust agreement has been released in accordance with its provisions, the corporation shall promptly do things and execute deeds and conveyances that are necessary and required to convey title to the project or projects to the participating institution for higher education or the participating municipality or the participating child daycare center or the participating healthcare provider, free and clear of all liens and encumbrances, all to the extent that title to the project or projects shall not, at the time, then be vested in the participating institution for higher education or the participating municipality or the participating child daycare center or the participating healthcare provider.