§ 42-10-12 - Bond accounts – Bond capital fund. - Rhode Island Statutes

SECTION 42-10-12

   § 42-10-12  Bond accounts – Bondcapital fund. – (a) The general treasurer shall keep an account with each issue of the statebonds, in which account the state shall be charged with the amount of the bondscontained in that issue and in which the numbers of the bonds shall be setforth; and the state shall be credited with the payments made on account ofthose bonds, indicating by their numbers in the account the particular bonds onaccount of which the payments shall be made.

   (b) Notwithstanding the provisions of any law relative to theissuance of specific bonds to the contrary, all separate bond funds inexistence on May 10, 1977, shall be consolidated into one fund which shall bedesignated the "bond capital fund". The general treasurer shall keep account ofthe amount of the funds in the "bond capital fund" attributable to the sale ofall past and future bond issues.