2023 Rhode Island General Laws
Title 45 - Towns and Cities
Chapter 45-37.1 - Industrial Facilities Corporation
Section 45-37.1-8. - Trust funds.

Universal Citation:
RI Gen L § 45-37.1-8. (2023)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

§ 45-37.1-8. Trust funds.

All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of bonds or notes or as revenues, receipts, or income, are deemed to be trust funds to be held and applied solely as provided in the proceedings under which the bonds or notes are authorized. Any officer with whom, or any bank or trust company with which, the moneys are deposited as trustee thereof, shall hold and apply the moneys for the purposes thereof, subject to provisions as this chapter and the proceedings authorizing the bonds or notes of any issue or the trust agreement securing those bonds or notes may provide.

History of Section.
P.L. 1967, ch. 11, § 1; P.L. 1980, ch. 229, § 5.

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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.