Title 35, Title 35 Finance

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.

(a) In order to benefit the people of the state and to provide for their general health and welfare and to maintain the high standards of public facilities and public equipment within the state the authority is hereby authorized and empowered to acquire and construct public facil…

The authority shall have the right to acquire any land, or any interest therein, by the exercise of the power of eminent domain, whenever it shall be determined by the authority that the acquisition of the land, or interest, is necessary for the construction or the operation of a…

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…

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 th…

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 be…

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 …

This chapter shall be known as and may be cited as the “Rhode Island Collateralization of Public Deposits Act”.

An annual report shall be made sixty (60) days after the end of each calendar year by the general treasurer to the general assembly on the effectiveness of this chapter.

This chapter shall take effect June 7, 1991, and shall be applicable only to those deposits made subsequent to October 1, 1991.

The following definitions shall apply for the purposes of this chapter: (1) “Commission” shall mean the state investment commission established pursuant to chapter 10 of this title. (2) “Depository institution” shall mean any state chartered bank or trust company, state chartered…

(a) Every qualified public depository shall, at a minimum insure or pledge eligible collateral equal to one hundred percent (100%) of public deposits which are time deposits with maturities greater than sixty (60) days, and which were maintained with that depository institution a…

A qualified depository institution may substitute insurance or different forms of collateral from time to time without notice to the public depositor or the commission; provided, that any substitute collateral constitutes eligible collateral; and provided, further, that no substi…

The valuation of collateral shall be established initially at the time the collateral is pledged and shall be adjusted thereafter as of the last day of each month. For the purpose of this chapter, the value of collateral shall be its market value.

The income from assets that constitute segregated collateral shall belong without restriction to the depository institution that pledged the collateral unless and until the assets are transferred to the public depositor or its designee as the result of a default or insolvency of …

(a) Except with respect to those public deposits which are fully insured by federal deposit insurance, each qualified depository institution holding public deposits shall file a report as required by this section within forty-five (45) days following the end of each of the instit…

At its option, a depository institution may elect to purchase insurance for one hundred percent (100%) of any public deposit not covered by federal deposit insurance or secured pursuant to this chapter; provided, that this insurance is provided by an insurer rated “AAA” by standa…

Public deposits which are fully insured by federal deposit insurance, subject to deposit insurance limitations, shall not be required to be secured by eligible collateral as provided by this chapter.

This chapter shall be known and may be cited as the “Rhode Island Local Government Investment Pool Act”.

The general treasurer, subject to the approval of the commission, shall by rule prescribe the time periods for investments in the investment pool and the procedure for withdrawal of funds from the investment pool. The state treasurer shall promulgate such other rules as are deeme…

The holding of any section or sections or parts thereof to be void, ineffective, or unconstitutional for any cause shall not be deemed to affect any other section or part thereof.

The purpose of this chapter is to enable eligible governmental entities to participate with the state in providing maximum opportunities for the investment of public funds consistent with safety and protection of such funds. It is the intention of the general assembly in enabling…

As used in this chapter, the following terms, unless the context requires a different interpretation, have the following meanings: (1) “Commission” means the state investment commission; (2) “Participation Unit” means the equal proportionate share into which the beneficial intere…

Notwithstanding and general or special law or regulation to the contrary, the general treasurer may establish, subject to the approval of the commission, one or more investment pool trust funds containing certain monies in accordance with § 35-10.2-5.

Each investment pool trust fund may contain any or a combination of any of the following: (1) Monies of the several funds of the state according to § 35-10-2; (2) The proceeds of all bond issues not immediately required; or (3) The funds under the custody of agencies, authorities…

The general treasurer shall serve as trustee for each established investment pool trust fund in accordance with this chapter.

The general treasurer shall invest each investment pool trust fund in instruments prescribed, and in amounts approved, by the commission in accordance with § 35-10-6.

The general treasurer is authorized to sell to all agencies, authorities, commissions, boards, municipalities, political subdivisions, and other public units of the state, participation units in any such combined investment trust fund. Such participation units are made legal inve…

(a) The general treasurer shall keep a separate account of each participant having funds in the investment pool. Each separate account shall record the individual amounts deposited in the investment pool, the date of withdrawals, and the earnings credited or paid. The general tre…