(a)  The authority is authorized and empowered to fix, revise, and collect from time to time, subject to the provisions of this chapter, fees, rentals, and other charges for the use of projects of, or the services rendered by, the authority to pay:

(1)  The cost of maintaining, repairing, and operating the project or projects or portion or portions of them; and

(2)  The principal of, premium, if any, and interest on the bonds and notes as the bonds and notes become due and payable, and to create reserves for these purposes.

Terms Used In Rhode Island General Laws 45-50-16

  • authority: means any municipal public buildings authority created pursuant to this chapter, or, if the authority is abolished, the board, body, or commission succeeding to the principal functions or upon whom the powers of the authority given by this chapter are given by law. See Rhode Island General Laws 45-50-9
  • bonds: means and includes the notes, bonds, and other evidences of indebtedness or obligations which the authority is authorized to issue pursuant to this chapter. See Rhode Island General Laws 45-50-9
  • Contract: A legal written agreement that becomes binding when signed.
  • cost: includes the cost of purchase and installation of solar, wind, and renewable energy systems, which include solar thermal, solar electric, and wind energy systems that provide heating, cooling, hot water, or electricity to a building, together with equipment for collection, storage, distribution, and control, including structural components of a building specifically designed to retain heat derived from solar energy. See Rhode Island General Laws 45-50-9
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • municipality: means and includes any city or town within the state. See Rhode Island General Laws 45-50-9
  • project: means any public facility or public equipment which the authority is authorized to construct, improve, equip, furnish, maintain, acquire, install, or operate under the provisions of this chapter, to provide for the conduct of the executive, legislative, and judicial functions of government, and its various branches, departments, and agencies. See Rhode Island General Laws 45-50-9
  • state: means and includes the state of Rhode Island, and any office, department, board, commission, bureau, division, authority, public corporation, agency, or instrumentality thereof. See Rhode Island General Laws 45-50-9
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.

(b)  The fees, rentals, and other charges are not subject to supervision or regulation by any commission, board, bureau, or agency of the state or of any municipality or other political subdivision of the state.

(c)  The revenues derived from the project or projects or portion or portions of them, in connection with which the bonds or notes have been issued, may be pledged as provided in the resolution or the trust agreement. The pledge is valid and binding from the time when the pledge is made; the rentals, revenues, or other moneys pledged, and received by the authority, are immediately subject to the lien of the pledge without any physical delivery or further act, and the lien of any pledge is valid and binding against all parties having claims of any kind in tort, contract, or otherwise against the authority, irrespective of whether the parties have notice of the claims. Neither the resolution nor any trust agreement by which a pledge is created need be filed or recorded except in the records of the authority. The use and disposition of revenues are subject to the provisions of the resolution authorizing the issuance of the bonds or the trust agreement.

History of Section.
P.L. 1987, ch. 475, § 1.