§ 46-12-24.2. Rhode Island Clean Water Act environmental trust fund.
(a) Findings.
(1) Protecting the ground and surface water of the state from pollution is vital to the
health and general welfare of the citizens of the state;
(2) Construction, rehabilitation, and maintenance of modern and efficient waste water
treatment systems and facilities is essential to protecting and improving the state's
water quality and to the state's development;
(3) Significant nonpoint sources of pollution and combinations of sewerage and storm water
runoff collection systems exist in the state and contribute to pollution;
(4) Certain areas of the state continue to be served by septic systems even though those
areas should be served by interceptors to carry pollutants to waste water treatment
facilities;
(5) Federal funds available to the state in the form of grants pursuant to the federal
Clean Water Act, 33 U.S.C. § 1251 et seq., are currently inadequate to permit Rhode Island governmental entities to
achieve secondary treatment within a five (5) year period, and the anticipated reduction
in federal funds available to the state and its governmental units may make it difficult
to achieve the goal of improvement to the state's water quality;
(6) A fund should be established to provide sufficient continuing financial resources
so that the state may achieve its water quality goals by providing for loans and grants
to governmental entities and others.
(b) Creation of fund. There is hereby created the Rhode Island Clean Water Act environmental trust fund
(hereinafter referred to as "the fund� or "the Trust Fund�) into which shall be deposited
with the general treasurer of the state of Rhode Island:
(1) Proceeds from the sale of bonds and notes, including any premiums and accrued interest,
issued under or advances pursuant to, article III of the Public Laws 1987, chapter
289;
(2) State appropriations;
(3) Repayment of loans from entities which have been qualified to receive loans by the
director;
(4) Federal grants and loans; and
(5) Unless otherwise specified by the director, all other money, including gifts, bequests,
administrative, and civil and criminal penalties received in connection with the enforcement
of this chapter, or other funds from any public or private sources which money are
intended to improve water quality.
(c) Use of fund; purposes. All money in the fund shall be expended in accordance with the general laws of the
state of Rhode Island, and are hereby specifically restricted to providing grants
and loans, and required state share or related expenses for the Narragansett Bay study,
consistent with the provisions of this chapter and with the provisions of the Clean
Water Act, 33 U.S.C. § 1251 et seq., as it may be amended from time to time. Proceeds from the sale of bonds
and notes deposited into the fund shall be expended in accordance with the proposition
approved by the people. Any proceeds from the sale of bonds or notes approved by the
people after 1988, may also be expended for the Narragansett Bay study to develop
and implement a conservation and management plan, and by the department of environmental
management to implement a management program for the control of water pollution from
nonpoint sources, including all necessary administrative costs. With respect to the
fund, the state controller is authorized and directed to draw his or her orders upon
the general treasurer for the payment out of the fund of such sum or sums as may be
required from time to time upon receipt by him or her of properly authenticated vouchers
approved by the director (as hereinafter defined) or his or her delegate. Expenses
of issue of the bonds and notes issued under article III of Public Laws 1987, chapter
289, may be paid from the fund.
(d) Administration of fund. All money in the fund shall be expended under the direction and supervision of the
director and the director or the director's delegate, as the case may be, shall be
vested with all power and authority necessary and incidental to the purposes of this
chapter, and these powers and authorities granted to the director or the director's
delegate, as the case may be, shall be in addition to and not in substitution for
all other power provided by law.
(e) Investment of money in fund. All money in the fund not immediately required for payment pursuant to the provisions
of this section may be invested by the state investment commission as established
by chapter 10 of title 35; provided, however, that the securities in which the fund is invested shall remain
part of the fund until exchanged for other securities, and provided, further, that
the income from any investments shall remain as part of the fund, unless prohibited
by applicable federal law.
(f) Advances from general fund. The general treasurer is authorized from time to time with the approval of the governor
and the director of the department of administration in anticipation of the receipts
of funds enumerated in subsection (b) to advance sums to the fund for the purposes
specified in subsection (c), any funds of the state not specifically held for any
particular purposes; provided, however, that any advances made to the fund shall be
returned to the general fund forthwith upon receipt by the fund of monies to the extent
of the advances.
(g) Termination of fund. Upon a finding by the director that the fund is no longer needed for its purposes,
the fund shall be terminated and shall be audited. Ninety (90) days following the
final audit of the fund by the state auditor general, the fund shall cease to exist
and any unobligated money in the fund shall be transferred to the state's general
fund and shall be applied to the payment of debt service charges of the state.