§ 24-12-40. Dissolution of Jamestown Bridge commission — Bridge to become toll free portion of state highway system — Covenants with bondholders.
(a) In case provision shall be made for the redemption of the outstanding bridge revenue refunding bonds of the Jamestown Bridge commission through the operation of the sinking fund for the bonds before the issuance of revenue bonds under the provisions of § 24-12-21, or in case the outstanding bridge revenue refunding bonds are retired from the proceeds of revenue bonds issued under the provisions of § 24-12-21, and in either event, the Jamestown Bridge commission shall thereupon be dissolved and all powers, control, and jurisdiction over and title to the Jamestown Bridge shall vest immediately in the state, which shall thereafter maintain, repair, and operate the bridge and the bridge shall thereafter constitute a toll free portion of the state highway system.
(b) In recognition of engineering studies which show that the charging and collecting of tolls for the use of the Jamestown Bridge or a failure of the state to maintain, repair, and operate the bridge would decrease traffic over the Newport Bridge and diminish the toll revenues to be received on account of the operation of the Newport Bridge, the state covenants and agrees with the holders of any bonds or obligations of the authority issued to pay the cost of the Newport Bridge, that during any period when the bonds or obligations shall be outstanding and unpaid, the laws of Rhode Island shall not be amended to authorize or permit the charging and collecting of tolls on the Jamestown Bridge and the state shall maintain, repair, and operate the Jamestown Bridge as a portion of the state highway system.
History of Section.P.L. 1954, ch. 3390, § 17; G.L. 1956, § 24-12-40; P.L. 1959, ch. 176, § 2; P.L. 1960, ch. 219, §§ 1, 22; P.L. 1963, ch. 165, § 17.
Structure Rhode Island General Laws
Chapter 24-12 - Rhode Island Turnpike and Bridge Authority
Section 24-12-1. - Definitions.
Section 24-12-2. - Authority created — Composition.
Section 24-12-3. - Appointment of authority members — Oath of office.
Section 24-12-4. - Officers of authority — Quorum — Reimbursement of expenses of members.
Section 24-12-6. - Grants or leases of state or municipal lands.
Section 24-12-7. - Revenue bonds not a debt of the state.
Section 24-12-8. - Expenses limited to funds provided.
Section 24-12-9. - Powers of authority.
Section 24-12-10. - Eminent domain power.
Section 24-12-11. - Filing of eminent domain resolution, plat, and statement of amount offered.
Section 24-12-12. - Taking of possession of lands.
Section 24-12-13. - Deposits in court on eminent domain — Notice to owners — Agreement as to price.
Section 24-12-14. - Jury trial on price of land.
Section 24-12-15. - Representation of incompetent landowners.
Section 24-12-16. - Repayment of excess deposits.
Section 24-12-17. - Expediting proceedings — Land devoted to public use — Outstanding interests.
Section 24-12-19. - Use of bond proceeds — Supplementary issues — Surplus proceeds.
Section 24-12-22. - Purchase of Jamestown-Newport ferry franchise.
Section 24-12-23. - Maintenance of Jamestown-Newport ferry service.
Section 24-12-24. - Pension fund for ferry company employees.
Section 24-12-25. - Trust agreement.
Section 24-12-26. - Power to collect tolls and charges — Gasoline and service concessions.
Section 24-12-27. - Amount of tolls.
Section 24-12-28. - Revenues pledged to sinking fund.
Section 24-12-29. - Trust funds — Trustee.
Section 24-12-30. - Remedies of bondholders.
Section 24-12-31. - Tax exemption.
Section 24-12-32. - Eligibility of bonds for investment.
Section 24-12-33. - Negotiability of bonds.
Section 24-12-34. - Refunding bonds.
Section 24-12-35. - Resolutions of authority.
Section 24-12-36. - Annual report and audit.
Section 24-12-37. - Penalty for nonpayment of toll — Toll violators and toll evaders.
Section 24-12-37.1. - [Repealed.]
Section 24-12-37.2. - Driver/registered owner liability.
Section 24-12-38. - Covenant against competition.
Section 24-12-39. - Transfer of projects to state — Dissolution of authority.
Section 24-12-40B. - Certain bonds guaranteed by state.
Section 24-12-40C. - Additional state guaranteed and revenue bonds for Newport Bridge.
Section 24-12-40D. - Additional state guaranteed bonds for Newport Bridge.
Section 24-12-40E. - State guaranteed bonds — General provision.
Section 24-12-41. - Severability.
Section 24-12-42. - Narragansett Bay Bridge authority obligations.
Section 24-12-44. - Construction of connecting highways.
Section 24-12-44A, 24-12-44B. - Repealed.
Section 24-12-45. - Liberal construction.
Section 24-12-46. - Severability.
Section 24-12-47. - Inconsistent laws inapplicable.
Section 24-12-48. - Provision for severance benefits.
Section 24-12-49. - Declaration of policy — Preventing economic harm to the town of Jamestown.
Section 24-12-50. - Relationship to department of transportation.
Section 24-12-51. - The Jamestown Verrazzano Bridge.
Section 24-12-51.1. - Former Jamestown Verrazano Bridge — Public fishing area.
Section 24-12-52. - Succotash Road Bridge.
Section 24-12-53. - William E. Powers Memorial Bridge.
Section 24-12-54. - Alfred U. Menard Memorial Bridge.
Section 24-12-55. - The Claiborne Pell Bridge.
Section 24-12-56. - Honorable John F. Conley Bridge.
Section 24-12-57. - General George S. Greene Memorial Bridge.
Section 24-12-58. - Robert E. Rowan, P.E. Bridge.
Section 24-12-59. - Bondholders’ rights not to be affected by the state.