reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-7 - Post Audit of Accounts › Section 35-7-14. - Travel and entertainment expenses of quasi-public agencies.

§ 35-7-14. Travel and entertainment expenses of quasi-public agencies.
Quasi-public agencies, as set forth in § 35-7-13, shall prepare and maintain documentation for all travel and entertainment expenses in sufficient detail to allow for post audit.
History of Section.
P.L. 1985, ch. 181, art. 27, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-7 - Post Audit of Accounts › Section 35-7-15. - Audit of information security systems.

§ 35-7-15. Audit of information security systems.
(a)
The general assembly recognizes that the security of government computer systems is essential to ensuring the stability and integrity of vital information gathered and stored by the government for the benefit of the citizenry and the breach of security over computer systems presents a risk to the health, safety, and welfare of the public. It is the intent of the legislature to ensure that government computer systems and information residing on these systems are protected from unauthorized access, compromise, sabotage, hacking, viruses, destruction, illegal use, cyber attack, or any other act that might jeopardize or harm the computer systems and the information stored on them.
(b)
In conjunction with the powers and duties outlined in this chapter, the office of internal audit may conduct reviews and assessments of the various government computer systems and the security systems established to safeguard these computer systems. Computer systems subject to this section shall include systems that pertain to federal, state, or local programs, and quasi-governmental bodies, and the computer systems of any entity or program that is subject to audit by the office of internal audit. The office of internal audit’s review may include an assessment of system vulnerability, network penetration, potential security breaches, and susceptibility to cyber attack and cyber fraud.
(c)
The office of internal audit’s findings shall be deemed public records and available for public inspection; provided, however, in the event the review indicates a computer system is vulnerable, or security over the system is otherwise deficient, reasonably segregable portions of the findings shall be subject to public inspection after the redaction of any information, the disclosure of which, would endanger the security of the system or reveal the specific nature of the vulnerabilities found. Notwithstanding any other provision of law to the contrary, the work papers developed in connection with the review of computer systems and the security over those systems authorized by this section shall not be deemed public records and are not subject to disclosure.
(d)
In order to maintain the integrity of the computer system, the office of internal audit may procure the services of specialists in information security systems or other contractors deemed necessary in conducting reviews under this section, and in procuring those services shall be exempt from the requirements of the state purchasing law or regulation.
(e)
Any outside contractor or vendor hired to provide services in the review of the security of a computer system shall be bound by the confidentiality provisions of this section.
History of Section.
P.L. 2014, ch. 259, § 1; P.L. 2014, ch. 317, § 1; P.L. 2016, ch. 142, art. 4, § 9.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-7.1 - The Office of Internal Audit › Section 35-7.1-3. - Investigations or management advisory and consulting services upon request of governor or general assembly.

§ 35-7.1-3. Investigations or management advisory and consulting services upon request of governor or general assembly.
The office of internal audit may, upon the written request of the governor or of the general assembly, conduct audits, provide management advisory and consulting services, or conduct investigations relative to the financial affairs or the economy and efficiency of management, or both, of any public bodies as defined in § 35-7.1-1(e). The office of internal audit may, from time to time, make such investigations and additional reports to the governor, the director of the department of administration, the director of the office of management and budget, and the general assembly as deemed necessary or advisable.
History of Section.
P.L. 2016, ch. 142, art. 4, § 10.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-7.1 - The Office of Internal Audit › Section 35-7.1-4. - Management advisory and consulting services provided to public bodies.

§ 35-7.1-4. Management advisory and consulting services provided to public bodies.
When requested in writing by a public body to the chief, the office of internal audit may provide management advisory or consulting services to the public body. Any such request must include the scope of services requested and a schedule for the work to be performed.
History of Section.
P.L. 2016, ch. 142, art. 4, § 10.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-7.1 - The Office of Internal Audit › Section 35-7.1-5. - Persons authorized to conduct audits — Reports of irregularities.

§ 35-7.1-5. Persons authorized to conduct audits — Reports of irregularities.
Any qualified person duly authorized by the director of management and budget to act as auditor may examine the books, papers, and documents of any public body having control of state or federal funds, and if the audit discloses any irregularities or improper handling of records or funds, the auditor shall report the same to the chief who shall, in turn, report such findings and recommendations to the director of management and budget, who shall further report to the director of administration.
History of Section.
P.L. 2016, ch. 142, art. 4, § 10.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-7.1 - The Office of Internal Audit › Section 35-7.1-6. - Inspection of records and papers — Investigations.

§ 35-7.1-6. Inspection of records and papers — Investigations.
(a)
The chief, in carrying out the duties outlined in this chapter, shall have access to all records, reports, audits, reviews, papers, books, documents, recommendations, correspondence, including information relative to the purchase of goods or services or anticipated purchase of goods or services, from any agent, contractor, or vendor by any public body, as defined in § 35-7.1-1(e), and any other data and material that is maintained by or available to any public body regardless of the media in which it is maintained which is in any way related to the programs and operations with respect to public bodies.
(b)
The chief may request information and records, cooperation, and assistance from any state, or local governmental agency as may be necessary for carrying out his/her duties and responsibilities. Upon receipt of such request, each person in charge of the public body shall furnish to the chief, or his/her authorized agent or representative, such information and records, cooperation and assistance, including information relative to the purchase of goods or services or anticipated purchase of goods or services from any contractor or vendor by any public body, within ten (10) business days of receipt of the chief’s request. If the public body is unable to comply with the request for records and/or information within (10) business days, the public body must notify the chief, prior to the expiration of the ten (10) business days, in writing as to the reason, or reasons, why the request cannot be fulfilled within this time and whether additional time is necessary.
(c)
The chief may initiate and conduct audits, investigations, and compliance reviews and shall prepare detailed findings, conclusions, and recommendations concerning the administration of programs or operations, and internal controls over processes of public bodies.
(d)
The chief shall have direct and prompt access to any public body, its agents, officers, and employees when necessary for any purpose pertaining to the performance of his/her duties and responsibilities under this chapter.
History of Section.
P.L. 2016, ch. 142, art. 4, § 10.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-7.1 - The Office of Internal Audit › Section 35-7.1-7. - Complaint — Investigation.

§ 35-7.1-7. Complaint — Investigation.
(a)
The chief shall accept and may investigate or audit complaints or information from any identified individual concerning the possible existence of any activity constituting fraud, waste, abuse, or mismanagement relating to programs and operations of public bodies.
(b)
The chief shall not, after receipt of a complaint or information from an employee, contractor, or private citizen who requests confidentiality, disclose the identity of that individual, without the written consent of said individual, unless the chief determines such disclosure is necessary and unavoidable during the course of an investigation. In such event, the individual filing the complaint shall be notified, if possible, immediately of such disclosure.
(c)
Employees are protected under the chapter 50 of title 28 “Rhode Island Whistleblowers’ Protection Act.”
History of Section.
P.L. 2016, ch. 142, art. 4, § 10.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-7.1 - The Office of Internal Audit › Section 35-7.1-8. - Reports to the state police.

§ 35-7.1-8. Reports to the state police.
In carrying out his/her duties and responsibilities, the chief shall report to the Rhode Island state police whenever the chief has reasonable grounds to believe there has been a violation of federal or state criminal law. The chief shall also refer findings to the state ethics commission, or to any other federal, state, or local agency with an interest in said findings, in the discretion of the chief. Any referrals made under this section shall not be made public by the office of internal audit.
History of Section.
P.L. 2016, ch. 142, art. 4, § 10.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-7.1 - The Office of Internal Audit › Section 35-7.1-9. - Coordination with other state agencies.

§ 35-7.1-9. Coordination with other state agencies.
The chief may coordinate with other state agencies that are responsible for investigating, auditing, reviewing, or evaluating the management of public bodies for the purpose of sharing information and avoiding duplication of effort.
History of Section.
P.L. 2016, ch. 142, art. 4, § 10.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-7.1 - The Office of Internal Audit › Section 35-7.1-10. - Annual and interim reports.

§ 35-7.1-10. Annual and interim reports.
(a)
The office of internal audit shall prepare an annual report summarizing the activities of the office of internal audit for the prior fiscal year. The office of internal audit may also prepare interim performance reports. These reports shall be presented to the director of management and budget. The annual reports shall be posted on the office’s website.
(b)
The annual report shall include, but not be limited to: a general description of significant problems in the areas of efficiencies, internal controls, fraud, waste, and abuse within programs and operations within the jurisdiction of the office; a general description of the recommendations for corrective actions made by the office during the reporting period with respect to significant deficiencies in the areas of efficiencies, internal controls, fraud, waste, and abuse; the identification of each significant recommendation described in previous annual reports on which corrective action has not been completed; a summary of matters referred to prosecuting authorities; a summary of any matters concerning the recovery of monies as a result of an audit finding or civil suit or a referral to another agency for the purposes of such suit; a list of all audit reports completed by the office during the reporting period; and a statement of recommendations of amendment to this chapter or the rules, regulations, or procedures governing the office of internal audit that would improve the effectiveness or the operations of the office.
(c)
The annual report of the office of internal audit shall be made public on the day of filing.
(d)
Within twenty (20) calendar days following the date of the issuance of the management-response copy of the draft audit report, the head of the department, agency, public body, or private entity audited shall respond, in writing, to each recommendation made in the audit report. This response shall address the department’s, agency’s, or public body’s or private entity’s plan of corrective action, the party responsible to implement the corrective action plan, and the anticipated date to complete the implementation of the corrective action; and, if applicable, the reasons for disagreement with any recommendation proposed in the audit report and justification of management’s acceptance of risk. The office of internal audit may perform follow-up procedures for the purpose of determining whether the department, agency, public body, or private entity has implemented, in an efficient and effective manner, its plan of correction action for the recommendations proposed in the audit report or addressed the risk discussed in the audit report.
(e)
Copies of each audit report, inclusive of management’s responses noted in subsection (d) shall be submitted to the chairpersons of the house finance committee, and the senate finance committee and posted on the office’s website.
History of Section.
P.L. 2016, ch. 142, art. 4, § 10.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-1. - Certificates of indebtedness issued for coupon bonds surrendered — Transfer.

§ 35-8-1. Certificates of indebtedness issued for coupon bonds surrendered — Transfer.
(a)
Whenever the holder of any coupon bond of this state shall surrender the bond, with the unpaid coupons belonging thereto, to the general treasurer, and shall request that he or she issue a certificate of that surrender, the general treasurer shall make an entry of the surrender in a book, to be by him or her kept for that purpose, and he or she shall issue a certificate thereof to the person surrendering the bond, countersigned by the secretary of state, who shall affix thereto the seal of the state, which certificate shall be duly recorded, and shall entitle the person receiving the certificate to receive the amount mentioned in the surrendered bond, and the interest thereon, at the times and places in the surrendered bond set forth.
(b)
The certificate shall not be transferable except by order of the holder thereof, or of his or her personal representative, made thereon, with notice to the general treasurer of the assignment. Upon the receipt of notice of the assignment, the general treasurer shall enter a memorandum thereof upon the record of the certificate. Whenever a certificate of indebtedness issued in accordance with these provisions is transferred, the general treasurer shall, on application of the person to whom the certificate is so transferred, cancel the certificate, and thereupon issue to the person a new certificate, countersigned and sealed, for the amount of principal then due on the certificate so cancelled.
History of Section.
G.L. 1896, ch. 32, § 2; G.L. 1909, ch. 42, § 2; G.L. 1923, ch. 43, § 2; G.L. 1938, ch. 107, § 2; G.L. 1956, § 35-8-1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-2. - Destruction of bonds and certificates unsold or repurchased by state — Certificate.

§ 35-8-2. Destruction of bonds and certificates unsold or repurchased by state — Certificate.
(a)
All bonds, coupons, and certificates of indebtedness which have or shall become the property of the state, except those held by the sinking fund commission, and all bonds, coupons, and certificates of indebtedness which have been issued by the state but which have not been sold during a period of five (5) years after the issuance of the bonds, coupons, and certificates of indebtedness, shall, within a reasonable time after the five-year period, be destroyed by the general treasurer by burning the bonds and certificates, in the presence of the secretary of state, the director of administration, and the attorney general, who shall make, sign, and deliver to the general treasurer a certificate containing the number, date of issue, and denomination of each bond, and of each coupon and certificate of indebtedness so destroyed, and of the time when destroyed, which certificate shall be, by the general treasurer, with his or her next report, transmitted to the general assembly.
(b)
At his or her discretion, the general treasurer may authorize the banks acting as fiscal agents of the state for these bonds and certificates of indebtedness to destroy the bonds, coupons, and certificates of indebtedness paid by them and submit to the general treasurer a notarized certificate of destruction in place of the paid bonds, coupons, and certificate of indebtedness, listing in numerical order the bond issue, bond and/or coupon number, date of issue, and denominations of each bond and of each coupon and certificate of indebtedness so destroyed and the time when destroyed. The destruction certificate, to be provided by the general treasurer, shall be submitted by the fiscal agents in regular intervals each month, together with a certification of the balance of the funds remaining in each bond account for the indebtedness matured and not presented for payment. The general treasurer and the state shall not be held liable for any bond, coupon, or certificate of indebtedness certified as reported destroyed by any bank acting as fiscal agents of the state.
History of Section.
G.L. 1896, ch. 32, § 3; G.L. 1909, ch. 42, § 3; G.L. 1923, ch. 43, § 3; G.L. 1938, ch. 107, § 3; P.L. 1939, ch. 686, § 1; impl. am. P.L. 1951, ch. 2727, art. 1, § 3; G.L. 1956, § 35-8-2; P.L. 1975, ch. 38, § 1; P.L. 1997, ch. 326, § 102.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-4. - Succession of sinking fund commission to previous board.

§ 35-8-4. Succession of sinking fund commission to previous board.
The sinking fund commission shall perform the duties prescribed by this chapter. Wherever in any general law, public law, or resolution of the general assembly, or in any document, record, instrument, or proceeding authorized by law or resolution, unless the context or subject matter otherwise requires, the words “board of commissioners of sinking funds” or any reference to that board of commissioners appears, the words or reference shall be construed to mean the “sinking fund commission” created by this chapter, and wherever the words “state budget director and comptroller” appear, they shall be construed to mean “director of administration”.
History of Section.
P.L. 1939, ch. 660, § 200; impl. am. P.L. 1951, ch. 2727, art. 1, § 3; G.L. 1956, § 35-8-4.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-5. - Officers of sinking fund commission.

§ 35-8-5. Officers of sinking fund commission.
The governor shall be the chairperson, the general treasurer shall be the vice-chairperson, and the director of administration shall be the secretary of the sinking fund commission, and the general treasurer shall keep the accounts of the commission. In the event of the governor’s absence, the general treasurer shall be the chairperson. A designee of any member shall not serve as chairperson. The commission shall elect from among its own members such officers as they deem necessary.
History of Section.
G.L. 1896, ch. 32, § 10; G.L. 1909, ch. 42, § 10; G.L. 1923, ch. 43, § 10; G.L. 1938, ch. 107, § 10; impl. am. P.L. 1939, ch. 660, § 200; impl. am. P.L. 1951, ch. 2727, art. 1, § 3; G.L. 1956, § 35-8-5; P.L. 2000, ch. 55, art. 3, § 1; P.L. 2000, ch. 319, § 1; P.L. 2000, ch. 472, § 2; P.L. 2006, ch. 319, § 1; P.L. 2006, ch. 444, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-6. - Control and management of sinking funds — Investment.

§ 35-8-6. Control and management of sinking funds — Investment.
The sinking fund commission shall have the control and management of all sinking funds established for the redemption of any bonds or certificates of indebtedness issued by the state, except for investments which are made by the state investment commission under the provisions of chapter 10 of this title. Any and all bonds or certificates of indebtedness of the state purchased as an investment for the sinking fund for the redemption of bonds of the same issue shall be held in the sinking fund subject to the order of the commission or until the bonds shall by their terms become due and payable. For the purposes of this section, refunding escrows established by the state in connection with the refinancing of any bonds, notes or certificates of indebtedness including, without limitation, refunding escrows established in connection with the refinancing of any certificates of participation issued by or at the direction of the state, shall not constitute sinking funds established for the redemption of any bonds or certificates of indebtedness issued by the state.
History of Section.
G.L. 1896, ch. 32, § 5; G.L. 1909, ch. 42, § 5; G.L. 1923, ch. 43, § 5; P.L. 1925, ch. 612, § 1; G.L. 1938, ch. 107, § 5; P.L. 1940, ch. 882, § 1; P.L. 1942, ch. 1217, § 1; G.L. 1956, § 35-8-6; impl. am. P.L. 1958, ch. 164; P.L. 1998, ch. 31, art. 26, § 2.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-6.1. - Exclusion from sinking fund commission authority.

§ 35-8-6.1. Exclusion from sinking fund commission authority.
Notwithstanding any general law or special law to the contrary, the sinking fund commission shall have no authority to take or cause to be taken any action or actions that would adversely affect the exclusion from income taxation of interest on any bonds, notes or certificates of indebtedness, including without limitation the interest portion of any certificates of participation issued by or at the direction of the state.
History of Section.
P.L. 1998, ch. 31, art. 26, § 3.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-6.2. - Sinking funds to replace bond issuance.

§ 35-8-6.2. Sinking funds to replace bond issuance.
(a)
Prior to the issuance of previously authorized general obligation debt contained in the capital improvement plan, the sinking fund commission may cause a savings analysis to be performed to determine if the estimated savings resulting from the defeasance of the general obligation debt recommended for defeasance by the sinking fund is more or less than the savings which would be achieved if the previously authorized general obligation debt were not issued. In the event that the sinking fund commission makes a finding that the savings would be greater from not issuing the previously authorized general obligation debt, then the sinking fund commission may use sinking funds to replace, in whole or in part, the same debt authorization.
(b)
Upon the sinking fund commission’s determination to use sinking funds to replace, in whole or in part, authorized but unissued general obligation debt authorization, the amount designated by the sinking fund commission is hereby appropriated for that purpose.
History of Section.
P.L. 2000, ch. 55, art. 3, § 2.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-8. - Safekeeping of securities and records of sinking fund commission.

§ 35-8-8. Safekeeping of securities and records of sinking fund commission.
The sinking fund commission shall make provision for the safekeeping of its securities, and it may hire and pay for a place of security. The records and books of account of the commission shall be deposited in the vault in the office of the general treasurer.
History of Section.
G.L. 1896, ch. 32, § 7; G.L. 1909, ch. 42, § 7; G.L. 1923, ch. 43, § 7; G.L. 1938, ch. 107, § 7; impl. am. P.L. 1939, ch. 660, § 200; G.L. 1956, § 35-8-8.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-9. - Records and annual report of sinking fund commission.

§ 35-8-9. Records and annual report of sinking fund commission.
The sinking fund commission shall keep a full record of its meetings and proceedings. The commission shall make a full report in writing to the general assembly on or before the tenth day of January in each year, showing respectively the conditions and manner of the investments of the sinking fund or sinking funds on the thirtieth day of June preceding, the estimated savings from the commission’s refinancing of debt in the prior fiscal year, the estimated total debt service payments of the debt retired by the commission in the prior fiscal year, and shall in the report certify that the various investment securities in the sinking funds have been examined by the director of administration.
History of Section.
G.L. 1896, ch. 32, § 8; P.L. 1901, ch. 809, § 4; G.L. 1909, ch. 42, § 8; G.L. 1923, ch. 43, § 8; P.L. 1931, ch. 1787, § 1; G.L. 1938, ch. 107, § 8; P.L. 1942, ch. 1216, § 1; impl. am. P.L. 1951, ch. 2727, art. 1, § 3; G.L. 1956, § 35-8-9; P.L. 1998, ch. 31, art. 26, § 2.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-10. - Expenses of sinking fund commission members.

§ 35-8-10. Expenses of sinking fund commission members.
The actual expenses of the members of the sinking fund commission, when certified by the secretary and approved by the governor, shall be paid from the state treasury.
History of Section.
G.L. 1896, ch. 32, § 9; G.L. 1909, ch. 42, § 9; G.L. 1923, ch. 43, § 9; G.L. 1938, ch. 107, § 9; impl. am. P.L. 1939, ch. 660, § 200; G.L. 1956, § 35-8-10.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-10.1. - Expenses of sinking fund commission.

§ 35-8-10.1. Expenses of sinking fund commission.
The commission may incur reasonable expenses in the fulfillment of its duties, including but not limited to bond counsel and financial advisement. These expenses shall be paid out of the commission’s annual appropriation.
History of Section.
P.L. 1998, ch. 31, art. 26, § 3.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-11. - Payments into sinking funds.

§ 35-8-11. Payments into sinking funds.
Beginning with fiscal year 2005, the sinking fund shall receive such sums as may be appropriated by the General Assembly.
History of Section.
G.L. 1896, ch. 32, § 11; G.L. 1909, ch. 42, § 11; G.L. 1923, ch. 43, § 11; P.L. 1931, ch. 1696, § 1; G.L. 1938, ch. 107, § 11; P.L. 1940, ch. 882, § 1; G.L. 1956, § 35-8-11; P.L. 1998, ch. 31, art. 26, § 2; P.L. 2000, ch. 55, art. 3, § 1; P.L. 2001, ch. 77, art. 3, § 1; P.L. 2002, ch. 65, art. 17, § 1; P.L. 2003, ch. 376, art. 4, § 1; P.L. 2004, ch. 595, art. 6, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-12. - Annual deficit payments to sinking fund commission.

§ 35-8-12. Annual deficit payments to sinking fund commission.
Annually, within five (5) days after the fifteenth of June in each fiscal year, the sinking fund commission shall certify in writing to the controller the sum necessary to offset any deficit then existing in the sinking fund and thereupon, on or before the last business day of the fiscal year, it shall be the duty of the controller to draw his or her order upon the general treasurer, directing the treasurer to transfer that sum from the general fund to the sinking fund.
History of Section.
G.L. 1938, ch. 107, § 11; P.L. 1940, ch. 882, § 1; G.L. 1956, § 35-8-12.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-13. - Surplus remaining after redemption of bonds.

§ 35-8-13. Surplus remaining after redemption of bonds.
All sums of money remaining in the hands of the sinking fund commission, after the redemption of any bonds, shall, if not otherwise directed by the general assembly, be added by them to the sinking fund for the bonds yet to mature.
History of Section.
G.L. 1896, ch. 32, § 12; G.L. 1909, ch. 42, § 12; G.L. 1923, ch. 43, § 12; G.L. 1938, ch. 107, § 12; impl. am. P.L. 1939, ch. 660, § 200; G.L. 1956, § 35-8-13.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-14. - General sinking fund established.

§ 35-8-14. General sinking fund established.
The general treasurer is authorized and directed to establish a general sinking fund for the purpose of providing funds for the payment of all state bonds at maturity, including all bonds authorized and issued according to law, and to transfer all the existing sinking funds to the general sinking fund. Wherever in any general law, public law, act, or resolution of the general assembly provision is made for the establishment of a sinking fund to extinguish a state debt at its maturity, that provision shall be construed to mean an addition to the general sinking fund for the redemption of state bonds at their maturity in conformity with this section.
History of Section.
G.L. 1923, ch. 43, § 13; P.L. 1931, ch. 1696, § 2; G.L. 1938, ch. 107, § 13; G.L. 1956, § 35-8-14.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-15. - Custody of securities in general sinking fund.

§ 35-8-15. Custody of securities in general sinking fund.
Subject to the provisions of § 35-8-8, and to the orders of the sinking fund commission or the state investment commission, the general treasurer shall have the custody of all securities in the general sinking fund established under the provisions of this chapter.
History of Section.
G.L. 1923, ch. 43, § 14; P.L. 1931, ch. 1696, § 2; G.L. 1938, ch. 107, § 14; impl. am. P.L. 1939, ch. 660, § 200; G.L. 1956, § 35-8-15; impl. am. P.L. 1958, ch. 164.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-16. - Board for replacement of lost, destroyed, or mutilated bonds or notes.

§ 35-8-16. Board for replacement of lost, destroyed, or mutilated bonds or notes.
The attorney general, the secretary of state, and the general treasurer are hereby constituted a board, hereinafter referred to in §§ 35-8-17 — 35-8-18 as “the board”, to carry out the provisions of those sections.
History of Section.
G.L. 1938, ch. 107, § 15; P.L. 1939, ch. 668, § 1; G.L. 1956, § 35-8-16.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-17. - Replacement or repair of damaged bonds or notes.

§ 35-8-17. Replacement or repair of damaged bonds or notes.
Whenever the board is satisfied that any instrument or printed or written paper presented to it is in fact a valid bond or note of the state but it is so damaged that its condition is such as to hinder or prevent the owner or holder thereof from making good delivery of the bond or note, the board may, upon payment to it by the owner or holder thereof of such a sum as it deems necessary to cover the actual expense involved, cause the damage to be repaired or remedied by requiring the proper officers of the state to sign the bond or note in place of their damaged or destroyed signatures or those of their predecessors in office, to issue a duplicate bond or note, or to do whatever else the board may require of them to repair or remedy the damage. But no duplicate bond or note shall be so issued except upon the surrender of the original bond or note, which shall thereupon be cancelled forthwith, and the repaired or duplicate bond or note shall be treated in all respects as a valid obligation of the state. On every repaired or duplicate bond or note the general treasurer shall certify on the back thereof that the bond or note has been repaired or issued under the provisions of this section and the certification shall be conclusive proof that the bond or note has been repaired or issued in accordance with the requirements of the board and that it is a valid obligation of the state in accordance with its terms.
History of Section.
G.L. 1938, ch. 107, § 15; P.L. 1939, ch. 668, § 1; G.L. 1956, § 35-8-17.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-18. - Replacement of lost or destroyed bond or note — Bond to protect state.

§ 35-8-18. Replacement of lost or destroyed bond or note — Bond to protect state.
Whenever the board is satisfied that any bond or note of the state has been lost or destroyed, the board may, upon payment to it by the owner or holder thereof of such a sum as it deems necessary to cover the actual expense involved and under such regulations and with such restrictions as it may prescribe, order the general treasurer and/or such other officers of the state as the board may designate to issue a duplicate of the bond or note, payable at the same time, bearing the same rate of interest as the bond or note so lost or destroyed, and so marked as to show the number if known and date of the original bond or note. No duplicate shall be issued until the owner of the lost or destroyed bond or note shall give to the general treasurer a bond in double the amount of the lost or destroyed bond or note and of the interest which would accrue until the principal is due and payable, with two (2) sufficient sureties both residents of the state, or with a surety company authorized to do business in this state, approved by the board, conditioned to indemnify and save harmless the state from any claim or demand on account of the lost or destroyed bond or note.
History of Section.
G.L. 1938, ch. 107, § 15; P.L. 1939, ch. 668, § 1; G.L. 1956, § 35-8-18.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-19. - Substitution of coupon bond for registered bond or registered bond for coupon bond.

§ 35-8-19. Substitution of coupon bond for registered bond or registered bond for coupon bond.
Whenever the holder of any registered or coupon bond of this state which is now or shall hereafter be issued or outstanding shall desire to substitute the registered bond for a coupon bond, or the coupon bond for a registered bond, he or she shall present the coupon bond to the general treasurer with a request in writing for the substitution for the bond of one or more other bonds. The general treasurer, upon payment to him or her for the use of the state of such a sum as he or she deems necessary to cover the actual expense involved and under such regulations and restrictions as he or she may prescribe, is authorized and empowered to accept the bond so presented and to issue and deliver in substitution thereof one or more new bonds of denominations of one thousand dollars ($1,000), five thousand dollars ($5,000), ten thousand dollars ($10,000), or fifty thousand dollars ($50,000); provided, that the aggregate face value of the new bonds shall not exceed the face value of the bond so presented; provided, further, that if the new bonds bear coupons, the coupons shall cover only future interest payments. The new bonds shall in all substantial respect (except the denomination thereof) be similar to the bond so presented as to the date of maturity, interest rate, and dates of interest payments; and every new bond so issued in substitution shall be as valid for all purposes as the bond so presented for substitution, notwithstanding the fact that the number thereof or the signatures thereon or the denomination thereof may be different from the bond so presented for substitution. In every case the general treasurer shall mutilate the bond so presented for substitution and shall make a record of the date, number, and amount thereof, and of the date, number, and amount of every new bond issued in substitution. Thereafter the mutilated bond shall be kept in the files of the general treasurer or may be destroyed in the same manner as provided in § 35-8-2. Every new bond issued in substitution shall be signed by the general treasurer and by the secretary of state.
History of Section.
G.L. 1938, ch. 107, § 15; P.L. 1940, ch. 883, § 1; P.L. 1944, ch. 1521, § 1; G.L. 1956, § 35-8-19.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-20. - Minibonds.

§ 35-8-20. Minibonds.
Notwithstanding any provision of general or public law to the contrary, whenever the general treasurer is authorized by any general or public law to issue and sell bonds of the state, he or she may determine, with the approval of the governor, to issue and sell all or a portion of the bonds in denominations of one hundred dollars ($100), five hundred dollars ($500), one thousand dollars ($1,000), or any multiple of one thousand dollars ($1,000). Bonds issued in denominations of one hundred dollars ($100), five hundred dollars ($500), or one thousand dollars ($1,000) are hereinafter called “minibonds”. The general treasurer may issue and sell minibonds at public or private sale at par or at a discount, maturing in such amounts and upon such dates, bearing interest at such rate or rates, payable as to both principal and interest at such time or times and in such manner, in bearer or registered form, and upon such other terms and conditions, all as the general treasurer, with the approval of the governor, shall determine to be in the best interest of the state. Each minibond may, at the determination of the general treasurer, also provide that it shall be redeemed by the state at the option of the holder or registered owner upon due presentment on any business day at least one month from its date at such price and on such terms as the general treasurer shall fix, with the approval of the governor, at the time of issue of the minibonds; provided, that if so determined and provided:
(1)
Not more than ten percent (10%) of the face amount originally authorized shall be sold by the general treasurer in any one fiscal year;
(2)
No minibond shall mature more than five (5) years after its date; and
(3)
No one sale to a single purchaser of minibonds shall be in an aggregate face amount greater than five thousand dollars ($5,000).
History of Section.
P.L. 1979, ch. 281, § 1; P.L. 1987, ch. 177, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-21. - Consolidation of bond issues.

§ 35-8-21. Consolidation of bond issues.
Bonds or notes issued pursuant to two (2) or more bond or note authorization acts may be consolidated for the purpose of sale and issued, sold, printed, and delivered as a single bond or note issue despite the requirement of any bond or note authorization act requiring or designating a particular total for bonds or notes issued pursuant to that act. Notwithstanding any requirement of the authorization act that bonds or notes issued thereunder shall bear any particular designation, bonds or notes consolidated pursuant to this section shall be designated on their face “Consolidated Capital Development Loan of”, followed by the year of issue and the series thereof in that year, or shall bear such other designation on their face as the general treasurer shall deem appropriate. Notwithstanding the provisions of this section, the general treasurer shall separately account for the bonds or notes issued under the proceeds received from bond or note sales under the particular authorizing act.
History of Section.
P.L. 1985, ch. 302, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-22. - Rebate to federal government.

§ 35-8-22. Rebate to federal government.
Notwithstanding any contrary provision of general or special law, the state and its agencies may rebate to the United States treasury any income from investments (including gains from the disposition of investments) of proceeds of bonds or notes to the extent deemed necessary to exempt (in whole or in part) the interest paid on the bonds or notes from federal income taxation.
History of Section.
P.L. 1986, ch. 110, § 5.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-23. - Repealed.

§ 35-8-23. Repealed.
History of Section.
P.L. 1986, ch. 110, § 5; Repealed by P.L. 1990, ch. 492, § 8, effective July 12, 1990.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-24. - Bonds to be eligible for Rhode Island savings bond program.

§ 35-8-24. Bonds to be eligible for Rhode Island savings bond program.
Unless otherwise provided therein, public laws which authorize the state to issue its general obligation bonds are “general obligation bond acts” as that term is defined in § 35-15-2(2).
History of Section.
P.L. 1988, ch. 426, § 5; P.L. 1990, ch. 54, § 3.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-25. - Extinguishment of authorized but unissued debt.

§ 35-8-25. Extinguishment of authorized but unissued debt.
(a)
Any special act of the state which:
(1)
Authorizes the issuance of general obligation bonds or notes of the state;
(2)
Has a balance which remains unissued; and
(3)
Is seven (7) years or older;
shall become invalid, but only as to that portion which remains unissued. The seven (7) year period shall be measured form the date the debt authorization was approved by the vote of the people.
(b)
Notwithstanding subsection (a) of this section, the general assembly by special act may extend any authorization for a period of one to five (5) years, upon a petition of the department of administration. The extension may be granted one or more times.
(c)
Upon certification by the general treasurer to the governor, debt authorizations described in subsection (a) of this section and not extended under the provisions of subsection (b) of this section shall no longer be deemed or be counted toward the authorized but unissued debt of the state. No petition under subsection (b) of this section may be made with respect to any authorization the expiration of which has been so certified.
(d)
Upon the disbursement of sinking funds to replace the unissued general obligation debt authorization, the replaced unissued general obligation debt authorization shall be extinguished in the amount equal to the disbursement from the sinking fund.
History of Section.
P.L. 1988, ch. 438, § 1; P.L. 2000, ch. 55, art. 3, § 1.
2023 Rhode Island General Laws › Title 35 - Public Finance › Chapter 35-8 - Bonded Indebtedness of State › Section 35-8-27. - Variable rate obligations and interest rate exchange agreements.

§ 35-8-27. Variable rate obligations and interest rate exchange agreements.
(a)
In connection with the issuance of duly authorized bonds or notes of the state, notwithstanding any other authority to the contrary, such bonds or notes may be issued in the form of variable rate obligations, so-called. In connection therewith, the state, acting through the general treasurer, may enter into agreements with banks, trust companies or other financial institutions within or without the state, whether in the form of letters or lines of credit, liquidity facilities, insurance or other support arrangements. Any debt issued as variable rate obligations shall bear such terms as the general treasurer shall determine, including provisions for prepayment at any time with or without premium at the option of the state, may be sold at a premium or discount, and may bear interest or not and if interest bearing, may bear interest at such rate or rates variable from time to time as determined by such index, banking loan rate or other method specified in any such agreement. Any such agreement may also include such other covenants and provisions for protecting the rights, security and remedy of the lenders as may, in the discretion of the general treasurer, be reasonable and proper and not in violation of law. The general treasurer may also enter into agreements with brokers for the placement or marketing of any such debt or notes of the state issued as variable rate obligations.
(b)
In addition, the general treasurer, with the approval of the governor, may from time to time, enter into and amend interest rate exchange agreements including, but not limited to, interest rate “caps”, “floors”, “collars”, or “swaps” that the general treasurer determines to be necessary or desirable for the purpose of generating savings, managing an interest rate, or similar risk that arises in connection with, or subsequent to or is incidental to the issuance, carrying or securing of variable rate obligations, fixed rate bonds or fixed rate obligations. Such interest rate exchange agreements entered into by the state shall contain such provisions, including payment, term, security, default and remedy provisions, and shall be with such parties, as the general treasurer shall determine to be necessary or desirable after due consideration to the creditworthiness of those parties.
History of Section.
P.L. 1997, ch. 23, § 1; P.L. 2001, ch. 162, § 1; P.L. 2011, ch. 363, § 23.
2023 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.
2023 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.