Rhode Island General Laws 39-16-21. Transfer on dissolution
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If the authority shall be dissolved, all funds of the authority, not required for the payment of bonds or other debts of the authority, the disposition of which is not otherwise governed by contracts to which the authority may be party, shall be paid to the towns of East Greenwich, Coventry, and West Warwick and the city of Warwick and, except as provided in this chapter, all property belonging to the authority shall be vested in the above-mentioned municipalities and delivered to them.
History of Section.
P.L. 1990, ch. 16, § 2; P.L. 1997, ch. 326, § 118.
Terms Used In Rhode Island General Laws 39-16-21
- Authority: means the corporation created by § 39-16-3. See Rhode Island General Laws 39-16-1
- Bonds: means the bonds, notes, or other obligations issued by the authority pursuant to this chapter. See Rhode Island General Laws 39-16-1
- Property: means any or all of the properties of any water supply and distribution system or part thereof, including plants, works, and instrumentalities, and all properties used or useful in connection therewith, and all parts thereof and all appurtenances thereto, including lands, easements, rights in land and water rights, rights-of-way, contract rights, franchises, approaches, connections, dams, reservoirs, water mains and pipelines, pumping stations and equipment, or any other property incidental to and included in the system or part thereof situated within or without the district. See Rhode Island General Laws 39-16-1