Terms Used In Rhode Island General Laws 46-12.2-12.1

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• General revenues: when used with reference to a local governmental unit, means revenues, receipts, assessments, and other moneys of the local governmental unit received from or on account of the exercise of its powers and all rights to receive the same, including without limitation:

  (i)  Taxes;

  (ii)  Wastewater system revenues;

  (iii)  Assessments upon or payments received from any other local governmental unit that is a member or service recipient of the local governmental unit, whether by law, contract, or otherwise;

  (iv)  Proceeds of local governmental obligations and loans and grants received by the local governmental unit in accordance with this chapter;

  (v)  Investment earnings;

  (vi)  Reserves for debt service or other capital or current expenses;

  (vii)  Receipts from any tax, excise, or fee heretofore or hereafter imposed by any general or special law all or a part of the receipts of which are payable or distributable to or for the account of the local governmental unit;

  (viii)  Local aid distributions; and

  (ix)  Receipts, distributions, reimbursements, and other assistance received by or for the account of the local governmental unit from the United States or any agency, department, or instrumentality thereof;

  (15)  "Loan" means a loan by the agency to a local governmental unit, or person, or corporation for costs of an approved project, including, without limitation, temporary and permanent loans, and lines of credit;

  (16)  "Loan agreement" means any agreement entered into by the agency with a local governmental unit, person, or corporation pertaining to a loan, other financial assistance, local governmental obligations, or non-governmental obligations, including, without limitation: a loan agreement, trust agreement, security agreement, reimbursement agreement, guarantee agreement, financing lease agreement, appropriation agreement, or similar instrument;

  (17)  "Local aid distributions" means receipts, distributions, reimbursements, and other assistance payable by the state to or for the account of a local governmental unit, except such receipts, distributions, reimbursements, and other assistance restricted by law to specific statutorily defined purposes;

  (18)  "Local governmental obligations" means bonds, notes, financing lease obligations, appropriation obligations, and other evidences of indebtedness in fully marketable form issued by a local governmental unit to evidence a loan or other financial assistance, from the agency in accordance with this chapter or otherwise as provided herein;

  (19)  "Local governmental unit" means any town, city, district, commission, agency, authority, board, bodies politic and corporate, public corporation, or other political subdivision or instrumentality of the state or of any political subdivision thereof, including the Narragansett Bay commission; and, for purposes of dam safety or dam maintenance projects, any person seeking financial assistance as a joint applicant with any of the above entities;

  (20)  "Local interest subsidy trust fund" means the local interest subsidy trust fund established under Rhode Island General Laws 46-12.2-2

• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Revenues: when used with reference to the agency, means any receipts, fees, payments, moneys, revenues, or other payments received or to be received by the agency in the exercise of its corporate powers under this chapter, including, without limitation: loan repayments, payments on local governmental obligations, non-governmental obligations, grants, aid, appropriations, and other assistance from the state, the United States, or any agency, department, or instrumentality of either or of a political subdivision thereof, bond proceeds, investment earnings, insurance proceeds, amounts in reserves, and other funds and accounts established by or pursuant to this chapter or in connection with the issuance of bonds, including, without limitation, the water pollution control revolving fund, the Rhode Island water pollution control revolving fund, and the local interest subsidy fund, and any other fees, charges or other income received or receivable by the agency;

  (27)  "Rhode Island water pollution control revolving fund" means the Rhode Island water pollution control revolving fund established pursuant to Rhode Island General Laws 46-12.2-2

History of Section.
P.L. 2015, ch. 141, art. 14, § 18; P.L. 2021, ch. 395, § 17, effective July 14, 2021.