2009 Rhode Island Code
Title 45 - Towns and cities
CHAPTER 45-54 - Municipal Detention Facility Corporations
§ 45-54-19 - Capital reserves.

SECTION 45-54-19

   § 45-54-19  Capital reserves. – To assure the continued operation and solvency of the corporation for the carrying out of its corporate purposes, the corporation may create and establish one or more special funds ( referred to as "capital reserve funds" in this chapter), and may pay into each capital reserve fund:

   (1) Any monies appropriated and made available by the state for the purpose of the fund;

   (2) Proceeds from the sale of notes or bonds to the extent provided in the resolution or resolutions of the corporation authorizing their issuance; and

   (3) Any other moneys that may be made available to the corporation, for the purpose of the fund, from any other source.

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