§ 42-82-13 - Investment of receipt pending expenditures. - Rhode-island Statutes

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Statutes > Rhode-island > Title-42 > Chapter-42-82 > 42-82-13

SECTION 42-82-13

§ 42-82-13 Investment of receipt pendingexpenditures. – All moneys in the fund not immediately required for payment pursuant to theprovisions of this chapter may be invested by the state investment commission,as established by chapter 10 of title 35, pursuant to the provisions of thatchapter; provided, however, that the securities in which the fund is investedshall remain a part of the funds as shall other securities for which theinvestment may from time to time, pursuant to that chapter, be exchanged; andprovided, further, that the income from that investment shall become part ofthe fund, and shall be used to the extent possible to pay debt service costs.

State Codes and Statutes

Statutes > Rhode-island > Title-42 > Chapter-42-82 > 42-82-13

SECTION 42-82-13

§ 42-82-13 Investment of receipt pendingexpenditures. – All moneys in the fund not immediately required for payment pursuant to theprovisions of this chapter may be invested by the state investment commission,as established by chapter 10 of title 35, pursuant to the provisions of thatchapter; provided, however, that the securities in which the fund is investedshall remain a part of the funds as shall other securities for which theinvestment may from time to time, pursuant to that chapter, be exchanged; andprovided, further, that the income from that investment shall become part ofthe fund, and shall be used to the extent possible to pay debt service costs.

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State Codes and Statutes

Statutes > Rhode-island > Title-42 > Chapter-42-82 > 42-82-13

SECTION 42-82-13

§ 42-82-13 Investment of receipt pendingexpenditures. – All moneys in the fund not immediately required for payment pursuant to theprovisions of this chapter may be invested by the state investment commission,as established by chapter 10 of title 35, pursuant to the provisions of thatchapter; provided, however, that the securities in which the fund is investedshall remain a part of the funds as shall other securities for which theinvestment may from time to time, pursuant to that chapter, be exchanged; andprovided, further, that the income from that investment shall become part ofthe fund, and shall be used to the extent possible to pay debt service costs.