Rhode Island Turnpike and Bridge Authority

SECTION 24-12-40E

§ 24-12-40E. State guaranteed bonds – General provision.

All payments made by the authority to the general fund for amounts loaned to the authority for payments on bond interest paid on state guaranteed bonds, shall, if requested in writing by the director of administration, be deposited by the state controller to a restricted receipt account. The moneys and interest or income earned from their investment shall be used for the payment of debt service cost (principal and interest) for state general obligation bonds.

History of Section.
(P.L. 1983, ch. 167, art. XIV, § 1.)