Rhode Island General Laws 16-62-16. Authorization to accept appropriated money
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The authority is authorized to accept any money as may be appropriated by the general assembly for effectuating its corporate purposes including, without limitation, the payment of the initial expenses of administration and operation and the establishment of reserves or contingency funds to be available for the payment of the principal of and the interest on any bonds, notes, or other obligations of the authority.
History of Section.
P.L. 1981, ch. 44, § 1.
Terms Used In Rhode Island General Laws 16-62-16
- Authority: means the governmental agency and public instrumentality authorized, created, and established pursuant to § 16-62-4. See Rhode Island General Laws 16-62-3
- notes: means the bonds, notes, securities, or other obligations or evidences of indebtedness issued by the authority pursuant to this chapter, all of which shall be issued under the name of or known as obligations of the Rhode Island student loan authority. See Rhode Island General Laws 16-62-3