§ 45-33.2-13 - Trust funds. - Rhode-island Statutes

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SECTION 45-33.2-13

§ 45-33.2-13 Trust funds. – All project revenues received pursuant to the provisions of this chapter whichhave been pledged as security, including, without limiting the generality ofthe preceding, security for the repayment of bonds issued pursuant to §45-33.2-6, are deemed to be trust funds to be held and applied solely asprovided in this chapter. Project revenues received pursuant to the provisionsof this chapter which have not been pledged as security may be used in anymanner consistent with the project plan, as well as, with respect to the taxincrement portion of the plan, § 45-33.2-3(6).

State Codes and Statutes

Statutes > Rhode-island > Title-45 > Chapter-45-33-2 > 45-33-2-13

SECTION 45-33.2-13

§ 45-33.2-13 Trust funds. – All project revenues received pursuant to the provisions of this chapter whichhave been pledged as security, including, without limiting the generality ofthe preceding, security for the repayment of bonds issued pursuant to §45-33.2-6, are deemed to be trust funds to be held and applied solely asprovided in this chapter. Project revenues received pursuant to the provisionsof this chapter which have not been pledged as security may be used in anymanner consistent with the project plan, as well as, with respect to the taxincrement portion of the plan, § 45-33.2-3(6).

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State Codes and Statutes

Statutes > Rhode-island > Title-45 > Chapter-45-33-2 > 45-33-2-13

SECTION 45-33.2-13

§ 45-33.2-13 Trust funds. – All project revenues received pursuant to the provisions of this chapter whichhave been pledged as security, including, without limiting the generality ofthe preceding, security for the repayment of bonds issued pursuant to §45-33.2-6, are deemed to be trust funds to be held and applied solely asprovided in this chapter. Project revenues received pursuant to the provisionsof this chapter which have not been pledged as security may be used in anymanner consistent with the project plan, as well as, with respect to the taxincrement portion of the plan, § 45-33.2-3(6).