§ 45-33.2-12 - Investment of funds. - Rhode Island Statutes

SECTION 45-33.2-12

   § 45-33.2-12  Investment of funds. –Subject to any agreement securing bonds or notes issued under this chapter, theproceeds of the bonds or notes, pledged tax increments, and other projectrevenues may be deposited or invested in:

   (1) Obligations of the state or the United States,

   (2) Obligations of the principal and interest of which areguaranteed by the state or the United States,

   (3) Obligations of agencies and instrumentalities of thestate or the United States or

   (4) Certificates of deposits of, and repurchase agreements,so called, issued with respect to obligations of the United States by, banksand trust companies organized under the laws of the state or doing business inthe state.