Section 35-18-1. – Short title.

§ 35-18-1. Short title. This chapter shall be known as the “Rhode Island Public Corporation Debt Management Act.” History of Section.P.L. 1994, ch. 148, § 1.

Section 35-18-2. – Definitions.

§ 35-18-2. Definitions. The words defined in this section shall have the meanings set forth below whenever they appear in this chapter, unless the context in which they are used clearly requires a different meaning: (1) “Bond” and “obligation” mean an agreement by any person to repay borrowed money. (2) “Economic development project” means any […]

Section 35-18-3. – Approval by the general assembly.

§ 35-18-3. Approval by the general assembly. (a) No elected or appointed state official may enter into any financing lease or into any guarantee with any person without the prior approval of the general assembly unless: (1) The governor certifies that federal funds will be available to make all of the payments which the state […]

Section 35-18-4. – Procedure.

§ 35-18-4. Procedure. (a) A financing lease, guarantee, bond, or other obligation shall be deemed to have been approved by the general assembly when the general assembly passes a concurrent resolution of approval regarding the financing lease, guarantee, bond, or other obligation which the governor or a public corporation, as the case may be, requests […]

Section 35-18-5. – Existing obligations.

§ 35-18-5. Existing obligations. Nothing in this chapter is intended to interfere with the obligations of the state or any public corporation under any trust agreement, financing lease, or other agreement in effect on, or with respect to any bonds or other obligations outstanding on, January 1, 1995. History of Section.P.L. 1994, ch. 148, § […]