TITLE 35
Public Finance

CHAPTER 35-3
State Budget

SECTION 35-3-27


§ 35-3-27 Reimbursement of debt service costs.

(a) The Rhode Island airport corporation shall pay to the State of Rhode Island the amount of debt service which would otherwise have been paid if the state had not refunded bonds or defeased with the proceeds from the tobacco securitization executed in June 2002 the general obligation bonds issued for airport purposes.

(b) The Narragansett bay water quality management district commission shall pay to the State of Rhode Island the amount of debt service which would otherwise have been paid if the state had not defeased with the proceeds from the tobacco securitization executed in June 2002 the user fee funded guaranteed general obligation bonds.

History of Section.
(P.L. 2003, ch. 103, art. 5, § 1.)