§ 35-8.1-11 - Loan to state authorized – Repayment subject to appropriation. - Rhode Island Statutes

SECTION 35-8.1-11

   § 35-8.1-11  Loan to state authorized– Repayment subject to appropriation. – The authority may lend money to the state, upon the request of the governor, byentering into a loan and trust agreement. The governor is authorized to enterinto a loan and trust agreement with the authority for the loaning of money tothe state upon such terms and conditions as shall be agreed upon by thegovernor and the authority. Upon the loaning and delivery of money to thestate, the state shall be deemed to have agreed to make certain loan paymentsin order to provide revenues to the authority. Notwithstanding anything in thischapter or any loan and trust agreement to the contrary, the amounts requiredto be paid by the state shall be subject to and dependent upon appropriationsbeing made from time to time by the general assembly for that purpose.