2009 Rhode Island Code
Title 45 - Towns and cities
CHAPTER 45-33.2 - Tax Increment Financing
§ 45-33.2-12 - Investment of funds.
SECTION 45-33.2-12
§ 45-33.2-12 Investment of funds. – Subject to any agreement securing bonds or notes issued under this chapter, the proceeds of the bonds or notes, pledged tax increments, and other project revenues may be deposited or invested in:
(1) Obligations of the state or the United States,
(2) Obligations of the principal and interest of which are guaranteed by the state or the United States,
(3) Obligations of agencies and instrumentalities of the state or the United States or
(4) Certificates of deposits of, and repurchase agreements, so called, issued with respect to obligations of the United States by, banks and trust companies organized under the laws of the state or doing business in the state.
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