§ 46-12.2-1. Legislative findings. (a) It is hereby found that there exists and will in the future exist within the state of Rhode Island the need to construct facilities and to facilitate projects for the abatement of pollution caused by wastewater for the enhancement of the waters of the state, and for the completion of […]
§ 46-12.2-10. Powers of local governmental units. Notwithstanding any provision of general law, special law or municipal charter to the contrary: (1) In addition to authority granted otherwise by this chapter and in any bond act or other law, a local governmental unit, acting by and through the officer or officers, board, committee, or other […]
§ 46-12.2-11. Authority of local governmental units to issue obligations — Terms. (a) In addition to the powers of any local governmental unit provided in any bond act, whenever a local governmental unit has applied for and accepted a loan from the agency and entered into a loan agreement therefor, any local governmental obligations issued […]
§ 46-12.2-12. Power of local governmental units to issue limited obligations payable from wastewater system revenues. (a) If required by the applicable loan agreement, and notwithstanding any general or special law or municipal charter to the contrary, local governmental obligations shall be issued as limited obligations payable solely from wastewater system revenues pledged to their […]
§ 46-12.2-12.1. Power of local governmental units to issue limited obligations payable from energy efficiency savings. (a) If required by the applicable loan agreement, and notwithstanding any general or special law or municipal charter to the contrary, local governmental obligations shall be issued as limited obligations payable solely from an appropriation of general revenues in […]
§ 46-12.2-13. Trust agreements pertaining to local governmental obligations. (a) Notwithstanding any general or special law to the contrary, local governmental obligations issued in accordance with this chapter may be secured by one or more trust agreements, including, or in addition to the applicable loan agreement, between the local governmental unit and a corporate trustee, […]
§ 46-12.2-14. Bonds of the agency. (a) The agency may provide by resolution of the board of directors for the issuance, from time to time, of bonds of the agency for any of its corporate purposes, including those set forth in this chapter and chapter 19.16 of title 23, chapter 18 of title 24, and […]
§ 46-12.2-14.1. Repealed. History of Section.P.L. 2015, ch. 141, art. 14, § 18; Repealed by P.L. 2017, ch. 480, § 5, effective October 13, 2017.
§ 46-12.2-15. Refunding bonds. The agency may issue refunding bonds for the purpose of paying any of its bonds, issued pursuant to this chapter or chapter 24-18, at or prior to maturity or upon acceleration or redemption or purchase and retirement. Refunding bonds may be issued at such times at or prior to the maturity, […]
§ 46-12.2-16. Bonds eligible for investment. Bonds issued by the agency under this chapter or chapter 24-18 and local governmental obligations issued hereunder are hereby made securities in which all public officers and agencies of the state and its political subdivisions, all insurance companies, trust companies in their commercial departments, savings banks, cooperative banks, banking […]
§ 46-12.2-17. No additional consent required. Except as provided in this section, bonds and local governmental obligations, and non-governmental obligations may be issued under this chapter or chapter 18 of title 24 without obtaining the consent of any executive office, department, division, commission, board, bureau, or agency of the state or any political subdivision thereof, […]
§ 46-12.2-18. Bonds not obligations of the state. Bonds issued by the agency under the provisions of this chapter or chapter 18 of title 24 shall not be deemed to be a debt or a pledge of the faith and credit of the state or of any of its political subdivisions, but shall be payable […]
§ 46-12.2-19. Lien status — Recording. (a) Notwithstanding any provision of any other law, including the Uniform Commercial Code: (1) Any pledge or assignment of revenues of any kind, funds, loan agreements, local governmental obligations, property, or assets made pursuant to the provisions of this chapter or chapter 18 of title 24 by the agency, […]
§ 46-12.2-2. Definitions. As used in this chapter, unless the context clearly indicates otherwise, the following words and phrases shall have the following meanings: (1) “Agency” means the Rhode Island clean water finance agency, and, effective September 1, 2015, and thereafter, shall mean the Rhode Island infrastructure bank; (2) “Approved project” means any project or […]
§ 46-12.2-20. Bonds and local government obligations as investment securities. Notwithstanding any of the provisions of this chapter, chapter 18 of title 24, or any recitals in any bonds or local governmental obligations issued hereunder, all bonds and local governmental obligations shall be deemed to be investment securities under the Uniform Commercial Code. History of […]
§ 46-12.2-21. Proceeds received by agency as trust funds. All moneys received by the agency pursuant to the provisions of this chapter or chapter 18 of title 24, whether as proceeds from the issue of bonds or as revenues or otherwise, shall be deemed to be trust funds to be held and applied solely as […]
§ 46-12.2-22. Tax exemption. Bonds issued by the agency and local governmental obligations issued by any local governmental unit in accordance with this chapter or chapter 18 of title 24, their transfer and the income therefrom, including any profit made on the sale thereof, shall, at all times, be exempt from taxation by and within […]
§ 46-12.2-23. Duration of agency — Termination. The agency and its corporate existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the agency shall have bonds outstanding, unless adequate provision has been made for the payment or satisfaction thereof. Upon termination of the agency, the […]
§ 46-12.2-24. Record keeping — Financial statements. The agency shall, at all times, keep full and accurate accounts of its receipts, expenditures, disbursements, assets, and liabilities which shall be open to inspection by any officer or duly appointed agent of the state. History of Section.P.L. 1989, ch. 303, § 2; P.L. 2001, ch. 180, § […]
§ 46-12.2-24.1. Reporting requirements. Within ninety (90) days after the end of each fiscal year, the agency shall submit an annual report to the governor, the speaker of the house of representatives, the president of the senate, and the secretary of state of its activities during that fiscal year. The report shall provide: a summary […]
