§ 42-64-19 — § 42-64-19. Trust funds.

§ 42-64-19. Trust funds.

All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of bonds or notes or as revenues, receipts, or income, and moneys held by the Rhode Island commerce corporation in the tire site remediation account established pursuant to § 23-63-4.1, shall be trust funds to be held and applied solely as provided in the proceedings under which the bonds or notes are authorized. Any officer with whom or any bank or trust company with which the moneys shall be deposited as trustee shall hold and apply the moneys for the purposes thereof, subject to the applicable provisions of this chapter, the proceedings authorizing the bonds or notes and the trust agreement securing the bonds or notes, if any.

Legislative History

P.L. 1974, ch. 100, § 14; P.L. 1992, ch. 133, art. 85, § 3; P.L. 2013, ch. 243, § 3; P.L. 2013, ch. 490, § 3.