§ 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 pursua
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§ 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.