Rhode Island § 24-12-39 § 24-12-39. Transfer of projects to state — Dissolution of authority.

Rhode Island Statutes

§ 24-12-39 — § 24-12-39. Transfer of projects to state — Dissolution of authority.

Rhode Island § 24-12-39

Title 24Highways

Ch. 24-12Rhode Island Turnpike and Bridge Authority

This text of Rhode Island § 24-12-39 (§ 24-12-39. Transfer of projects to state — Dissolution of authority.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 24-12-39 (2026).

Text

§ 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 a

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§ 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.