§ 35-3-27 - Reimbursement of debt service costs. - Rhode Island Statutes

SECTION 35-3-27

   § 35-3-27  Reimbursement of debt servicecosts. – (a) The Rhode Island airport corporation shall pay to the State of Rhode Islandthe amount of debt service which would otherwise have been paid if the statehad not refunded bonds or defeased with the proceeds from the tobaccosecuritization executed in June 2002 the general obligation bonds issued forairport purposes.

   (b) The Narragansett bay water quality management districtcommission shall pay to the State of Rhode Island the amount of debt servicewhich would otherwise have been paid if the state had not defeased with theproceeds from the tobacco securitization executed in June 2002 the user feefunded guaranteed general obligation bonds.