reglab/housing_qa huggingface dataset:
RI Gen L § 35-8-28 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8 - Bonded Indebtedness of State|Section 35-8-28 - Interest earnings on state bonded indebtedness - Federal requirements.

§ 35-8-28. Interest earnings on state bonded indebtedness — Federal requirements.Notwithstanding any general or public law or rule to the contrary, income from investments in the capital development fund may be applied to capital purposes and shall not become part of the general fund of the state to the extent necessary to exempt (in whole or in part) the interest paid on such bonds or notes from federal taxation, to preserve and maintain any federal tax credits associated with such bonds or notes, or to preserve or maintain any refundable tax credits paid or to be paid to the state with regard to such bonds or notes.History of Section.P.L. 2010, ch. 7, § 1.
RI Gen L § 35-8.1-1 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-1 - Short title.

§ 35-8.1-1. Short title.This chapter shall be known as and may be cited as the "Rhode Island Refunding Bond Authority Act".History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-2 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-2 - Legislative findings.

§ 35-8.1-2. Legislative findings.The general assembly hereby finds, declares, and observes that the:(1) State issued its general obligation bonds dated May 1, 1984, in the aggregate principal amount of thirty million dollars ($30,000,000) pursuant to statutory authorities approved by the electorate of the state, and the state issued its general obligation bonds dated June 28, 1985, in the aggregate principal amount of ninety million dollars ($90,000,000) pursuant to statutory authorities approved by the electorate of the state;(2) 1984 and 1985 bonds bear interest at a rate in excess of current interest rates and the general assembly has determined that it would be in the best interests of the people of the state to obtain funds to pay, redeem, or retire the 1984 and 1985 bonds with bonds bearing a lower rate of interest;(3) Statutory authorities previously approved do not provide authorization for the issuance of general obligation refunding bonds of the state; and(4) General assembly desires to create an authority with the power to issue bonds to provide funds to loan to the state so that the state can pay, redeem, or retire the 1984 and 1985 bonds.(5) Furthermore, the general assembly desires to consolidate debt issuing authorities and create administrative savings as a result of such consolidations. To accomplish this desire, on July 1, 1997, the public building authority shall be eliminated as an entity and its functions, powers, rights, duties and liabilities shall be transferred to the authority pursuant to the provisions of this chapter.History of Section.P.L. 1987, ch. 12, § 1; P.L. 1994, ch. 70, art. 16, § 1; P.L. 1994, ch. 410, § 1; P.L. 1997, ch. 30, art. 2, § 4.
RI Gen L § 35-8.1-4 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-4 - Creation.

§ 35-8.1-4. Creation.There is hereby created and established a public corporation to be administered by the office of the general treasurer, having a distinct legal existence from the state and not constituting a department of state government, to be known as the "Rhode Island refunding bond authority". The authority is constituted as a public instrumentality to exercise public and essential governmental functions.History of Section.P.L. 1987, ch. 12, § 1; P.L. 2006, ch. 319, § 2; P.L. 2006, ch. 444, § 2.
RI Gen L § 35-8.1-6 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-6 - Compensation and expenses of members - Effect of membership on state office or employment.

§ 35-8.1-6. Compensation and expenses of members — Effect of membership on state office or employment.The members of the authority shall serve without compensation, but the authority shall reimburse them for actual expenses necessarily incurred in the discharge of their duties. Notwithstanding any other law, an officer or employee of the state shall not be deemed to have forfeited or shall forfeit his or her office or employment or any benefits thereof by reason of acceptance of the office of member of the authority.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-7 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-7 - Staff - Consultants - Rules.

§ 35-8.1-7. Staff — Consultants — Rules.The authority shall be staffed by the office of the general treasurer. The authority may employ such consultants, as it, in its discretion, deems necessary. For purposes of this chapter only, the authority may adopt rules pursuant to chapter 35 of title 42 upon less than twenty (20) days' notice and it may proceed upon any abbreviated notice and hearing to adopt an emergency rule if it finds an economic benefit to the state. The rules shall become effective immediately upon filing with the secretary of state.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-8.1 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-8.1 - Transfer of functions, powers, rights, duties, and liabilities of the public buildings authority.

§ 35-8.1-8.1. Transfer of functions, powers, rights, duties, and liabilities of the public buildings authority.Upon the passage of this article there are hereby transferred to the authority all the functions, powers, rights, duties, liabilities, property and resources of the public buildings authority.History of Section.P.L. 1997, ch. 30, art. 2, § 5.
RI Gen L § 35-8.1-8.4 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-8.4 - Eminent domain - Standards.

§ 35-8.1-8.4. Eminent domain — Standards.In addition to all of the proceedings and requirements under § 35-8.1-8.3, the authority shall further be required to follow the same statutory proceedings for the taking of land as required of state agencies when the agencies take land under the authority granted by chapter 6 of title 37.History of Section.P.L. 1997, ch. 30, art. 2, § 5.
RI Gen L § 35-8.1-8.5 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-8.5 - Use of projects.

§ 35-8.1-8.5. Use of projects.The use of the facilities of the authority and the operation of its business shall be subject to the rules and regulations from time to time adopted by the authority; provided, however, that the authority shall not be authorized to do anything which will impair the security of the holders of the obligations of the authority or violate any agreements with them or for their benefit.History of Section.P.L. 1997, ch. 30, art. 2, § 5.
RI Gen L § 35-8.1-8.6 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-8.6 - Transfer to governmental body.

§ 35-8.1-8.6. Transfer to governmental body.When all bonds issued under the provisions of the chapter for each specific project and the interest thereon shall have been paid or a sufficient amount for the payment of all the bonds and the interest thereon to the maturity thereof shall have been set aside in trust for the benefit of the bondholders, that specific project financed under the provisions of this chapter may be transferred to the governmental body leasing the project on such terms and conditions and for such consideration as the authority shall determine. If the authority shall be dissolved all funds of the authority not required for the payment of bonds shall be paid to the general treasurer for the use of the state and all property belonging to the authority shall be vested in the state and delivered to it.History of Section.P.L. 1997, ch. 30, art. 2, § 5.
RI Gen L § 35-8.1-9 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-9 - Supplementary powers.

§ 35-8.1-9. Supplementary powers.In addition to any other powers granted in this chapter, the authority has the power to:(1) Conduct examinations and hearings and hear testimony and take proof, under oath or affirmation, at public or private hearings, on any matter material for its information and necessary to carry out the terms of this chapter;(2) Issue subpoenas, necessary to carry out the terms of this chapter, requiring the attendance of witnesses and the production of books and papers pertinent to any hearing before the authority, or before one or more of the members of the authority appointed by it to conduct the hearing; and(3) Apply to any court, having territorial jurisdiction of the offense, to have punished for contempt any witness who refuses to obey a subpoena, or who refuses to be sworn or affirmed to testify, or who is guilty of any contempt after summons to appear.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-10 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-10 - Annual report, audit, and debt service needs certification.

§ 35-8.1-10. Annual report, audit, and debt service needs certification.In the month of January, the authority shall make an annual report of its activities for the preceding fiscal year to the governor, the speaker of the house of representatives, the president of the senate and the secretary of state. The report shall set forth a complete operating and financial statement covering its operations during the year, a summary of meetings or hearings held, meeting minutes if requested, subjects addressed, decisions rendered, rules or regulations promulgated, studies conducted, policies and plans developed, approved, or modified, and programs administered or initiated; a summary of performance during the previous fiscal year including accomplishments, shortcomings and remedies; a synopsis of hearings, complaints, suspensions, or other legal matters related to the authority of the board; a summary of any training courses held pursuant to subsection 35-8.1-5(a); a briefing on anticipated activities in the upcoming fiscal year; and findings and recommendations for improvements. The report shall be posted electronically on the general assembly and the secretary of state's website as prescribed in § 42-20-8.2 of the Rhode Island general laws. The director of the department of administration shall be responsible for the enforcement of this provision.History of Section.P.L. 1987, ch. 12, § 1; P.L. 2006, ch. 319, § 2; P.L. 2006, ch. 444, § 2.
RI Gen L § 35-8.1-11 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-11 - Loan to state authorized - Repayment subject to appropriation.

§ 35-8.1-11. Loan to state authorized — Repayment subject to appropriation.The authority may lend money to the state, upon the request of the governor, by entering into a loan and trust agreement. The governor is authorized to enter into a loan and trust agreement with the authority for the loaning of money to the state upon such terms and conditions as shall be agreed upon by the governor and the authority. Upon the loaning and delivery of money to the state, the state shall be deemed to have agreed to make certain loan payments in order to provide revenues to the authority. Notwithstanding anything in this chapter or any loan and trust agreement to the contrary, the amounts required to be paid by the state shall be subject to and dependent upon appropriations being made from time to time by the general assembly for that purpose.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-12 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-12 - Receipt, investment, and application by state of loan.

§ 35-8.1-12. Receipt, investment, and application by state of loan.(a) Other than as provided in subsection (b), the proceeds of a loan to the state shall, upon their receipt, be paid by the general treasurer immediately to the paying agent or other suitable trustee for the 1984 and 1985 bonds and the paying agent or trustee shall hold the proceeds in trust until they are applied to pay the 1984 and 1985 bonds. Neither the governor nor the general treasurer or any other official of the state or trustee for the 1984 and 1985 bonds shall make or permit to be made any expenditures for new capital improvements from the proceeds of the loan. While the proceeds are held in trust, they may be invested in obligations of the United States or the state or any other state.(b) The proceeds generated for refinancing the pension obligation shall be paid to the general treasurer on behalf of the state, who shall then immediately remit the proceeds to the state retirement system. Neither the governor nor the general treasurer or any other official of the state shall make any expenditures for new capital improvements from the proceeds. While the proceeds are held by the state retirement system they shall be invested pursuant to the investment statutes and policies of the state investment commission.(c) The board, with the approval of the governor, shall have the authority to appoint a paying agent or other suitable trustee for the 1984-1985 bonds and the governor is authorized to execute any documents or agreements on behalf of the state necessary to carry out the purposes of this section.(d) Any proceeds issued pursuant to § 35-8.1-13(d), can be used in accordance within the terms of any trust or agreement entered into by the authority in connection with such bonds.History of Section.P.L. 1987, ch. 12, § 1; P.L. 1994, ch. 70, art. 16, § 1; P.L. 1997, ch. 30, art. 2, § 4.
RI Gen L § 35-8.1-14 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-14 - Negotiability of bonds.

§ 35-8.1-14. Negotiability of bonds.Notwithstanding any law to the contrary, bonds issued under this chapter are fully negotiable for all purposes.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-16 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-16 - Loan and trust agreement.

§ 35-8.1-16. Loan and trust agreement.In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a loan and trust agreement by and between the (1) authority, the state, and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state; or (2) the authority, the state and the state retirement system. The loan and trust agreement, or the resolution providing for the issuance of the bonds, may pledge or assign the revenues of the authority and may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law. It shall be lawful for any bank or trust company incorporated under the laws of the state which may act as depository of the proceeds of bonds or of revenues of the authority to furnish such indemnifying bonds or to pledge such securities as may be required by the authority. The loan and trust agreement may set forth the rights and remedies of the bondholders and of the trustee, if applicable, and may restrict the individual right of action by bondholders.History of Section.P.L. 1987, ch. 12, § 1; P.L. 1994, ch. 70, art. 16, § 1.
RI Gen L § 35-8.1-17 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-17 - Bonds neither debt of or pledge of credit by state or subdivisions.

§ 35-8.1-17. Bonds neither debt of or pledge of credit by state or subdivisions.(a) Bonds issued under this chapter shall not be deemed to constitute a debt of the state or any other political subdivision thereof or a pledge of the faith and credit of the state or any other political subdivision thereof, but shall be payable solely from the funds provided therefrom from revenues. Each bond must contain on its face a statement to the effect that the authority is obligated to pay the principal thereof and the interest thereon only from revenues or funds of the authority and that neither the faith and credit nor the taxing power of the state is pledged to the payment of the principal or the interest on the bonds.(b) Except as may be otherwise expressly provided in this chapter or by the authority, every issue of bonds of the authority shall be general obligations of the authority payable out of any revenues or funds of the authority. Bonds may additionally be secured by a pledge of any grants, subsidies, contributions, funds, or moneys from the United States or the state or any governmental unit or any person, firm, or corporation, or a pledge of any income or revenues, funds, or money of the authority from any source whatsoever.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-18 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-18 - Revenues.

§ 35-8.1-18. Revenues.The authority has the power to fix and collect from time to time, subject to the provisions of this chapter, schedules for the repayment of any loan to the state in order to generate revenues. The schedules for repayment shall not be 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. The revenues derived from loan repayments may be pledged as provided in any loan and trust agreement or resolution of the authority. The pledge shall be valid and binding from the time when the pledge is made. The revenues so pledged and thereafter received by the authority shall immediately be subject to the lien of the pledge without physical delivery thereof or further act, and the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the authority, irrespective of whether the parties have notice thereof. Neither the resolution nor any loan and 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 shall be subject to the provisions of the resolution authorizing the issuance of the bonds or the loan and trust agreement.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-19 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-19 - Trust funds.

§ 35-8.1-19. Trust funds.All moneys received pursuant to the provisions of this chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied as may be provided in the resolution authorizing the issuance of the bonds or the loan and trust agreement securing the bonds. The authority shall, in the resolution authorizing the bonds or in the loan and trust agreement securing the bonds, provide for the payment of proceeds of the sale of the bonds and the revenues to be received to a trustee, which shall be any trust company or bank having the powers of a trust company within or without the state, which shall act as trustee of the funds, and which shall hold and apply the funds to the purposes of this chapter, subject to such regulations as this chapter and the resolution or loan and trust agreement may provide.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-20 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-20 - Remedies.

§ 35-8.1-20. Remedies.Any holder of bonds issued under the provisions of this chapter or any coupons appertaining thereto and the trustee under the loan and trust agreement or the resolution, except to the extent the rights given in this chapter may be restricted by the loan and trust agreement or the resolution, may, by civil action, mandamus, or other proceeding, protect and enforce any and all rights under the laws of the state or granted under this chapter or under the loan and trust agreement or the resolution authorizing the issuance of the bonds, and may enforce and compel the performance of all duties required by this chapter or by the loan and trust agreement or resolution to be performed by the authority or by any officer thereof, including the fixing, charging, and collection of revenues.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-21 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-21 - Exemptions from taxation.

§ 35-8.1-21. Exemptions from taxation.The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the state and for the facilitation of the conduct of their public business, and will constitute the performance of essential governmental functions. Therefore, the authority shall not be required to pay any taxes or assessments upon any property acquired or used by the authority under the provisions of this chapter or upon any income it may receive, and the bonds issued under the provisions of this chapter, their transfer and the income therefrom (including any profit made on the sale thereof), shall at all times be free from taxation by the state or any political subdivision or other instrumentality of the state, excepting estate taxes.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-22 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-22 - Bonds constitute legal investment.

§ 35-8.1-22. Bonds constitute legal investment.Bonds issued by the authority under the provisions of this chapter are securities in which all public officers and public bodies of the state and its political subdivisions, insurance companies, trust companies, banking associations, investment companies, credit unions, building and loan associations, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. The bonds are securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the state for any purpose for which the deposit of bonds or obligations is authorized by law.History of Section.P.L. 1987, ch. 12, § 1.
RI Gen L § 35-8.1-23 (2021)
2021 Rhode Island General Laws|Title 35 - Public Finance|Chapter 35-8.1 - Refunding Bond Authority|Section 35-8.1-23 - State's pledge not to limit or alter authority's powers.

§ 35-8.1-23. State's pledge not to limit or alter authority's powers.The state pledges to and agrees with any person, firm, or corporation, or federal agency subscribing to or acquiring the bonds to be issued by the authority that the state will not limit or alter the rights vested in the authority until all bonds at any time issued, together with the interest thereon, are fully met and discharged. The state further pledges to and agrees with the United States and any other federal agency that, in the event that any federal agency shall contribute any funds to the authority, the state will not alter or limit the rights and powers of the authority in any manner which would be inconsistent with the due performance of any agreements between the authority and the federal agency and the authority shall continue to have and may exercise all powers granted in this chapter, so long as these powers shall be necessary or desirable for the carrying out of the purpose of this chapter.History of Section.P.L. 1987, ch. 12, § 1.