Title 35, Title 35 Finance

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 th…

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.

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 th…

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.

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.

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 o…

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 restri…

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 g…

(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 so…

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 o…

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 designa…

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 …

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).

(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 seve…

(a) When bonds or notes have been issued as provided in this chapter, the general treasurer shall be authorized and empowered hereby, with the approval of the governor and in accordance with this chapter, to issue, from time to time, refunding bonds or notes of the state to refun…

(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 g…

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 int…

(a) There is hereby authorized, created and established in the department of the general treasurer a sinking fund commission which shall perform the duties formerly performed by the board of commissioners of sinking funds as prescribed by this chapter, which board of commissioner…

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 ma…

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’…

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…

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…

(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 obliga…

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.

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 o…