§ 45-50-16. Revenues.
(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.
(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.
Structure Rhode Island General Laws
Chapter 45-50 - Municipal Public Buildings Authorities
Section 45-50-1. - Short title.
Section 45-50-2. - Authorities created.
Section 45-50-4. - Resolution conclusive as to capacity of authority.
Section 45-50-5. - Appointment of authority members.
Section 45-50-5.1. - Compliance with laws and contractual obligations.
Section 45-50-5.2. - Interest of members or employees in property.
Section 45-50-5.3. - Evaluation and approval.
Section 45-50-6. - Tenure of authority members.
Section 45-50-7. - Officers and quorums.
Section 45-50-8. - Reimbursement for expenses.
Section 45-50-9. - Definitions.
Section 45-50-11. - Credit of state, political subdivisions, and authority not pledged.
Section 45-50-12. - Powers of authority.
Section 45-50-13. - Eminent domain proceedings.
Section 45-50-14. - Revenue bonds.
Section 45-50-15. - Trust agreements.
Section 45-50-17. - Trust funds.
Section 45-50-19. - Exemptions from taxation.
Section 45-50-20. - Bonds eligible for investment.
Section 45-50-21. - Negotiable instruments.
Section 45-50-22. - Refunding bonds.
Section 45-50-23. - Use of projects.
Section 45-50-24. - Limitation of powers.
Section 45-50-25. - Actions authorized by resolution.
Section 45-50-26. - Annual report and audit.
Section 45-50-27. - Transfer of project to governmental body.
Section 45-50-28. - Inconsistent provisions.
Section 45-50-29. - Applicability of other laws.