Rhode Island General Laws
Chapter 46-12.8 - Water Projects Revolving Loan Fund
Section 46-12.8-3. - Additional powers of agency in connection with administration of safe drinking water revolving fund.

§ 46-12.8-3. Additional powers of agency in connection with administration of safe drinking water revolving fund.
The agency shall have all powers necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, including, so far as apt, the general powers of the agency as set forth in chapter 12.2 of this title and, without limiting the generality of the foregoing, the powers:
(1) To receive and apply its revenues to the purposes of this chapter without appropriation or allotment by the state or any political subdivision thereof;
(2) To borrow money, issue bonds, notes or other evidences of indebtedness, and apply the proceeds thereof, as provided in this chapter, and to pledge or assign or create security interests in revenues, funds, and other property of the agency and otherwise as provided in this chapter, to pay or secure any such bonds, notes or other evidences of indebtedness; and to invest any funds held in reserves or in the safe drinking water revolving loan fund or any revenues or funds not required for immediate disbursement, in such investments as may be legal investments for funds of the state;
(3) To obtain insurance and to enter into agreements of indemnification necessary or convenient to the exercise of powers under this chapter;
(4) To enter into contracts, arrangements and agreements with other persons, and execute and deliver all instruments necessary or convenient to the exercise of its powers under this chapter; such contracts and agreements may include without limitation, loan agreements with local governmental units and private water companies, operating plans and other agreements contemplated by this chapter, grant agreements, contracts for financial assistance or other forms of assistance from the state or the United States, and trust agreements and other financing agreements and instruments pertaining to any bonds, notes or other evidences of indebtedness issued in accordance with the provisions of this chapter;
(5) To provide financial assistance to local governmental units and private water companies to finance costs of approved projects, and to acquire and hold local governmental obligations and the obligations of private water companies at such prices and in such manner as the agency shall deem advisable, and sell local governmental obligations and the obligations of private water companies acquired or held by it at prices without relation to cost and in such manner as the agency shall deem advisable, and to secure its own bonds, notes or other evidences of indebtedness with such obligations, all as provided in this chapter;
(6) To acquire, own, lease as tenant, or hold real, personal or mixed property or any interest therein for its own office; and to improve, rehabilitate, sell, assign, exchange, lease as landlord, mortgage or otherwise dispose of or encumber the property; and
(7) To do all things necessary or convenient or desirable for carrying out the purpose of this chapter or the powers expressly granted or necessarily implied by this chapter.
History of Section.P.L. 1993, ch. 313, § 1; P.L. 1993, ch. 396, § 1.

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