Rhode Island § 35-8-6 § 35-8-6. Control and management of sinking funds — Investment.

Rhode Island Statutes

§ 35-8-6 — § 35-8-6. Control and management of sinking funds — Investment.

Rhode Island·Title 35 Public Finance·Ch. 35-8 Bonded Indebtedness of State

§ 35-8-6. Control and management of sinking funds — Investment.
The sinking fund commission shall have the control and management of all sinking funds
            established for the redemption of any bonds or certificates of indebtedness issued
            by the state, except for investments which are made by the state investment commission
            under the provisions of chapter 10 of this title. Any and all bonds or certificates
            of indebtedness of the state purchased as an investment for the sinking fund for the
            redemption of bonds of the same issue shall be held in the sinking fund subject to
            the order of the commission or until the bonds shall by their terms become due and
 

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§ 35-8-6. Control and management of sinking funds — Investment.

The sinking fund commission shall have the control and management of all sinking funds established for the redemption of any bonds or certificates of indebtedness issued by the state, except for investments which are made by the state investment commission under the provisions of chapter 10 of this title. Any and all bonds or certificates of indebtedness of the state purchased as an investment for the sinking fund for the redemption of bonds of the same issue shall be held in the sinking fund subject to the order of the commission or until the bonds shall by their terms become due and payable. For the purposes of this section, refunding escrows established by the state in connection with the refinancing of any bonds, notes or certificates of indebtedness including, without limitation, refunding escrows established in connection with the refinancing of any certificates of participation issued by or at the direction of the state, shall not constitute sinking funds established for the redemption of any bonds or certificates of indebtedness issued by the state.

Rhode Island § 35-8-6 (§ 35-8-6. Control and management of sinking funds — Investment.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

G.L. 1896, ch. 32, § 5; G.L. 1909, ch. 42, § 5; G.L. 1923, ch. 43, § 5; P.L. 1925, ch. 612, § 1; G.L. 1938, ch. 107, § 5; P.L. 1940, ch. 882, § 1; P.L. 1942, ch. 1217, § 1; G.L. 1956, § 35-8-6; impl. am. P.L. 1958, ch. 164; P.L. 1998, ch. 31, art. 26, § 2.