Rhode Island General Laws 46-12.2-16. Bonds eligible for investment
Bonds issued by the agency under this chapter or chapter 24-18 and local governmental obligations issued hereunder are hereby made securities in which all public officers and agencies of the state and its political subdivisions, all insurance companies, trust companies in their commercial departments, savings banks, cooperative banks, banking associations, investment companies, executors, administrators, trustees, and other fiduciaries may properly invest funds, including capital in their control or belonging to them. The bonds and local governmental obligations are hereby made securities which may properly be deposited with and received by any state or municipal officer of any agency or political subdivision of the state for any purpose for which the deposit of bonds or obligations of the state or any political subdivision is now or may hereafter be authorized by law.
History of Section.
P.L. 1989, ch. 303, § 2; P.L. 2013, ch. 144, art. 20, § 2.
Terms Used In Rhode Island General Laws 46-12.2-16
- Agency: means the Rhode Island clean water finance agency, and, effective September 1, 2015, and thereafter, shall mean the Rhode Island infrastructure bank;
(2) "Approved project" means any project or portion thereof that has been issued a certificate of approval by the department for financial assistance from the agency, and also includes any project approved for financial assistance from the agency in accordance with state law, and, furthermore, shall include water pollution abatement projects funded outside of the water pollution control revolving fund, the Rhode Island water pollution control revolving fund, or the local interest subsidy trust fund, without the requirement of the issuance of a certificate of approval; and, furthermore, shall include resiliency related infrastructure projects, and projects which may, subject to compliance with all state and federal requirements, include state and federal infrastructure located within the state of Rhode Island;
(3) "Board" means the board of directors of the agency;
(4) "Bond act" means any general or special law authorizing a local governmental unit to incur indebtedness for all or any part of the cost of projects coming within the scope of a water pollution abatement project, or for other projects related to this chapter, including but not limited to, § 45-12-2;
(5) "Bonds" means bonds, notes, or other evidence of indebtedness of the agency;
(6) "Certificate of approval" means the certificate of approval contemplated by § 46-12. See Rhode Island General Laws 46-12.2-2