East Bay Bridge System Act of 2012

SECTION 24-17-3

§ 24-17-3. East Bay Infrastructure fund established.

(a) There is hereby created a special account in the general fund to be known as the East Bay Infrastructure (EBI) fund.

(b) The fund shall consist of all those moneys which the Rhode Island Turnpike and Bridge Authority may and the state may, from time to time, direct to the fund, including, but not necessarily limited to, funds in excess of those required to (i) pay debt service payments, (ii) operate and maintain the bridges; and (iii) maintain required or adequate reserves.

(c) All funds collected pursuant to this section shall be deposited in the EBI fund and shall be used only in Bristol and Newport Counties, and only for the purposes set forth in this chapter.

(d) Unexpended balances and any earnings thereon shall not revert to the general fund but shall remain in the EBI fund. There shall be no requirement that moneys received into the EBI fund during any given calendar year or fiscal year be expended during the same calendar year or fiscal year.

(e) The EBI fund shall be administered by the director, who shall allocate and spend moneys from the fund only in accordance with the purposes and procedures set forth in this chapter.

History of Section.
(P.L. 2012, ch. 241, art. 20, § 1.)