§ 42-10.1-1. Creation — Members. (a) There is hereby authorized, created and established in the department of the general treasurer a public finance management board to consist of nine (9) members: (1) The general treasurer or his or her designee who shall be a subordinate within the general treasurer’s office; (2) The director of the […]
§ 42-10.1-10. Public finance management board advisory opinions. The board shall have the authority to offer non-binding, advisory opinions on all aspects of debt management practices of state, municipal, and public and quasi-public corporations. History of Section.P.L. 2016, ch. 142, art. 2, § 2.
§ 42-10.1-2. Purpose. It shall be the purpose and responsibility of the board: (1) To advise and assist all state departments, municipal and regional authorities, agencies, boards, commissions, public and quasi-public corporations, and fire districts and other special districts having authority to issue revenue or general obligation bonds or GARVEE bonds or notes or other […]
§ 42-10.1-3. Allocation of statewide financing limitation. (a) The eighty-seven million four thousand dollars ($87,004,000) in total recovery zone economic development bond volume cap allocations granted to the five (5) counties of the State of Rhode Island by the United States Secretary of the Treasury pursuant to 26 U.S.C. §§ 1400U-1 and 1400U-2 of the […]
§ 42-10.1-4. Notice of debt issue to board. (a) Each state, municipal and regional department, authority, agency, board, commission, public and quasi-public corporation, and fire district and other special district having authority to issue revenue or general obligation bonds or GARVEE bonds or notes or other various types of conduit debt shall, no later than […]
§ 42-10.1-5. Fees authorized — Fund established. In connection with the discharge of its duties under this chapter, the board is authorized to charge and impose fees for its services upon the lead underwriter or purchaser of any affected debt issue, bond, or note in an amount equal to one-fortieth of one percent (1/40%) of […]
§ 42-10.1-6. Officers — Meetings. (a) The general treasurer or his or her designee shall serve as chairperson and shall preside at meetings of the board. (b) The board members shall annually elect, by majority vote, one of the members as vice chairman and one of the members as secretary and other such officers as […]
§ 42-10.1-7. Compensation — Staff — Advice from other agencies — Office space. (a) The membership of the board shall receive no compensation for their services. The general treasurer shall provide the clerical and administrative support required to develop and evaluate the comprehensive state plan. (b) All departments and agencies of the state shall furnish […]
§ 42-10.1-8. Comprehensive review. (a) The board shall comprehensively review the financing of capital improvements by all state, municipal, and regional departments, authorities, agencies, boards, commissions, and public and quasi-public corporations and study the comparative debt of all state and local governmental units for capital improvements and the use of bond financing as a source […]
§ 42-10.1-9. Report of debt affordability and targets. (a) The board shall compile and publish annually the total amount of public state, regional, municipal, and public and quasi-public corporation debt authorized, sold, and unsold. (b) No less frequently than every two (2) years, the board shall oversee the undertaking of a debt affordability study that […]
