§ 42-82-8 - Agricultural lands preservation fund. - Rhode Island Statutes

SECTION 42-82-8

   § 42-82-8  Agricultural lands preservationfund. – The general treasurer is directed to deposit the proceeds of the sale of thebonds including any premium or premiums and any accrued interest which may bereceived from the sale of the bonds, in one or more of the depositories inwhich the funds of the state may be lawfully kept, in the amount to be known as"agricultural lands preservation fund" to be used as follows:

   (1) For the purposes of § 42-82-5;

   (2) As prescribed in § 42-82-12 in the case of premiumsor accrued interest; and

   (3) In the event that the amount received from the sale ofthe bonds exceeds the amount necessary for the planning for or purchase ofdevelopment rights to farmland, the surplus shall be used to the extentpossible to retire the bonds as they may become due.