Said notes or bonds, when issued, shall be legal obligations of said town, city or county and shall be executed and issued in the manner now provided by law for the execution and issuance of notes or bonds by such political subdivisions, but the governor and council shall act as agent of said town, city or county for the sale of said notes or bonds and their action in reference thereto shall be binding upon said town, city or county.
Source. 1933, 63:3. 1945, 112:1, eff. April 4, 1945.