§ 45-39.2-10 — § 45-39.2-10. Succession of electric and water district to certain obligations of Pascoag utility district and of Harrisville fire district.

Rhode Island § 45-39.2-10

• Jurisdiction: Rhode Island
• Title 45: Towns and cities
• Ch. 45-39.2: Clear River Electric and Water District

Text

§ 45-39.2-10. Succession of electric and water district to certain obligations of Pascoag utility district and of Harrisville fire district.

On January 1, 2025, the electric and water district shall:

(1) Succeed to and become subject to the utility bond obligations heretofore imposed by any security interest or trust instrument upon the Harrisville fire district; and

(2) Succeed to the precise position of Pascoag utility district, without any waiver or augmentation of that position whatsoever, as to each wholesale power purchase or power sales agreement, and each transmission service agreement or interconnection agreement heretofore entered into by the utility district, that position to include such rights, claims, or defenses as Pascoag utility district may have had prior to January 1, 2025, with respect to any obligation of any such contract.

Legislative History

P.L. 2024, ch. 152, § 2, effective January 1, 2025; P.L. 2024, ch. 153, § 2, effective January 1, 2025.