§ 46-12.2-23. Duration of agency — Termination.
The agency and its corporate existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the agency shall have bonds outstanding, unless adequate provision has been made for the payment or satisfaction thereof. Upon termination of the agency, the title to all funds and other properties owned by it, which remain after provision for the payment or satisfaction of all bonds of the agency, shall vest in the state. The obligations, debts, and liabilities of the agency shall be assumed by and imposed upon the state, and shall be transferred to the state general treasurer or to such other successor as the general assembly may designate.
History of Section.P.L. 1989, ch. 303, § 2.
Structure Rhode Island General Laws
Title 46 - Waters and Navigation
Chapter 46-12.2 - Rhode Island Infrastructure Bank
Section 46-12.2-1. - Legislative findings.
Section 46-12.2-2. - Definitions.
Section 46-12.2-4. - General powers and duties of agency.
Section 46-12.2-4.1. - Power to participate in projects to enhance the waters of the state.
Section 46-12.2-4.2. - Establishment of the efficient buildings fund.
Section 46-12.2-4.3. - Establishment of the clean energy fund.
Section 46-12.2-5. - Officers.
Section 46-12.2-5.1. - Purchasing.
Section 46-12.2-7. - Payment of state funds — Agreement between agency and department.
Section 46-12.2-8. - Procedures for application, approval, and award of financial assistance.
Section 46-12.2-9. - Authorization to expend funds available for local grants.
Section 46-12.2-10. - Powers of local governmental units.
Section 46-12.2-11. - Authority of local governmental units to issue obligations — Terms.
Section 46-12.2-13. - Trust agreements pertaining to local governmental obligations.
Section 46-12.2-14. - Bonds of the agency.
Section 46-12.2-14.1. - Repealed.
Section 46-12.2-15. - Refunding bonds.
Section 46-12.2-16. - Bonds eligible for investment.
Section 46-12.2-17. - No additional consent required.
Section 46-12.2-18. - Bonds not obligations of the state.
Section 46-12.2-19. - Lien status — Recording.
Section 46-12.2-20. - Bonds and local government obligations as investment securities.
Section 46-12.2-21. - Proceeds received by agency as trust funds.
Section 46-12.2-22. - Tax exemption.
Section 46-12.2-23. - Duration of agency — Termination.
Section 46-12.2-24. - Record keeping — Financial statements.
Section 46-12.2-24.1. - Reporting requirements.
Section 46-12.2-25. - Supplemental powers — Inconsistent laws.
Section 46-12.2-25.1. - Administrative procedures.