2009 Rhode Island Code
Title 45 - Towns and cities
CHAPTER 45-54 - Municipal Detention Facility Corporations
§ 45-54-12 - Revenues.

SECTION 45-54-12

   § 45-54-12  Revenues. – (a) The corporation is authorized and empowered to fix, revise, and collect from time to time, subject to the provisions of this chapter, fees, rentals, and other charges for the use of projects of, or the services rendered by the corporation to pay:

   (1) The cost of maintaining, repairing, and operating the project or projects or portion or portions of them; and

   (2) The principal of, premium, if any, and interest on the bonds and notes as the bonds and notes become due and payable, and to create reserves for these purposes.

   (b) The fees, rentals, and other charges are not subject to supervision or regulation by any commission, board, bureau, or agency of the state or of any municipality or other political subdivision of the state.

   (c) The revenues derived from the project or projects or portion or portions of them, in connection with which the bonds or notes have been issued, may be pledged as provided in the resolution or the trust agreement. The pledge is valid and binding from the time when the pledge is made; the rentals, revenues, or other moneys so pledged and thereafter received by the corporation are immediately subject to the lien of the pledge without any physical delivery or further act, and the lien of any pledge is valid and binding against all parties having claims of any kind in tort, contract, or otherwise against the corporation, whether the parties have notice of claims. Neither the resolution nor any trust agreement by which a pledge is created need be filed or recorded except in the records of the corporation.

   (d) The use and disposition of revenues is subject to the provisions of the resolution authorizing the issuance of the bonds, or of the trust agreement.

Disclaimer: These codes may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.