§ 35-8-14 - General sinking fund established. - Rhode Island Statutes

SECTION 35-8-14

   § 35-8-14  General sinking fundestablished. – The general treasurer is authorized and directed to establish a general sinkingfund for the purpose of providing funds for the payment of all state bonds atmaturity, including all bonds authorized and issued according to law, and totransfer all the existing sinking funds to the general sinking fund. Whereverin any general law, public law, act, or resolution of the general assemblyprovision is made for the establishment of a sinking fund to extinguish a statedebt at its maturity, that provision shall be construed to mean an addition tothe general sinking fund for the redemption of state bonds at their maturity inconformity with this section.