Capital reserves

R.I. Gen. Laws § 45-54-19., under Chapter 45-54 Municipal Detention Facility Corporations.

R.I. Gen. Laws § 45-54-19.

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.