§ 24-12-39 Transfer of projects to state
Dissolution of authority.
When all bonds issued under the provisions of this chapter and the interest
thereon shall have been paid or a sufficient amount for the payment of all the
bonds and the interest thereon to the maturity thereof shall have been set
aside in trust for the benefit of the bondholders, all projects financed under
the provisions of this chapter may be transferred to the state in good
condition and repair, and thereupon the authority shall be dissolved and all
funds of the authority not required for the payment of bonds shall be paid to
the general treasurer for the use of the state and all machinery, equipment and
other property belonging to the authority shall be vested in the state and
delivered to the department of transportation.
(P.L. 1954, ch. 3390, § 17; G.L. 1956, § 24-12-39; P.L. 1960, ch. 219, §§ 1, 21; P.L. 2012, ch. 241, art. 20, § 3.)