Rhode Island § 45-37.1-8 § 45-37.1-8. Trust funds.

Rhode Island Statutes

§ 45-37.1-8 — § 45-37.1-8. Trust funds.

Rhode Island § 45-37.1-8

Title 45Towns and cities

Ch. 45-37.1Industrial Facilities Corporation

This text of Rhode Island § 45-37.1-8 (§ 45-37.1-8. Trust funds.) 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 § 45-37.1-8 (2026).

Text

§ 45-37.1-8. 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, are deemed to
            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 are deposited as trustee thereof, shall hold and apply
            the moneys for the purposes thereof, subject to provisions as this chapter and the
            proceedings authorizing the bonds or notes of any issue or the trust agreement securing
            those bonds or notes may prov

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§ 45-37.1-8. 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, are deemed to 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 are deposited as trustee thereof, shall hold and apply the moneys for the purposes thereof, subject to provisions as this chapter and the proceedings authorizing the bonds or notes of any issue or the trust agreement securing those bonds or notes may provide.