§ 45-54-19. Capital reserves.
To assure the continued operation and solvency of the corporation for the carrying out of its corporate purposes, the corporation may create and establish one or more special funds ( referred to as “capital reserve funds” in this chapter), and may pay into each capital reserve fund:
(1) Any monies appropriated and made available by the state for the purpose of the fund;
(2) Proceeds from the sale of notes or bonds to the extent provided in the resolution or resolutions of the corporation authorizing their issuance; and
(3) Any other moneys that may be made available to the corporation, for the purpose of the fund, from any other source.
History of Section.P.L. 1991, ch. 421, § 1.
Structure Rhode Island General Laws
Chapter 45-54 - Municipal Detention Facility Corporations
Section 45-54-1. - Corporations created.
Section 45-54-2. - Legislative findings.
Section 45-54-3. - Definitions.
Section 45-54-4. - Resolution conclusive as to capacity of corporation.
Section 45-54-5. - Board of directors — Tenure — Quorums.
Section 45-54-7. - Exemption from taxation.
Section 45-54-9. - Eminent domain proceedings.
Section 45-54-10. - Revenue bonds.
Section 45-54-11. - Trust agreement.
Section 45-54-13. - Trust funds.
Section 45-54-15. - Negotiable instruments.
Section 45-54-16. - Refunding bonds.
Section 45-54-17. - Credit of state and political subdivisions not pledged.
Section 45-54-18. - Use of projects.
Section 45-54-19. - Capital reserves.
Section 45-54-20. - Bonds eligible for investment.
Section 45-54-21. - Limitation of powers.
Section 45-54-22. - Annual report and audit.
Section 45-54-23. - Transfers to governmental body.
Section 45-54-24. - Applicability of other laws.
Section 45-54-25. - Liberal construction.
Section 45-54-26. - Inconsistent provisions.