§ 46-24-17 - Money of the authority. - Rhode Island Statutes

SECTION 46-24-17

   § 46-24-17  Money of the authority. –All money of the authority from whatever source derived, shall be paid to thetreasurer of the authority. The money on receipt shall be deposited forthwithin a separate bank account or accounts. The money in the account shall be paidout on a check of the treasurer on requisition by the authority, or of suchother person or persons as the authority may authorize to make therequisitions. All deposit of the money shall be secured by obligations of theUnited States or the state of Rhode Island and Providence Plantations with amarket value equal at all times to the amount of deposits, and all banks andtrust companies are authorized to give securities for any deposits. Theauthority shall have power as to the custody, collection, security, investment,and payment of any money within its jurisdiction.