§ 45-50-16 - Revenues.
SECTION 45-50-16
§ 45-50-16 Revenues. – (a) The authority is authorized and empowered to fix, revise, and collect fromtime to time, subject to the provisions of this chapter, fees, rentals, andother charges for the use of projects of, or the services rendered by, theauthority to pay:
(1) The cost of maintaining, repairing, and operating theproject or projects or portion or portions of them; and
(2) The principal of, premium, if any, and interest on thebonds and notes as the bonds and notes become due and payable, and to createreserves for these purposes.
(b) The fees, rentals, and other charges are not subject tosupervision or regulation by any commission, board, bureau, or agency of thestate or of any municipality or other political subdivision of the state.
(c) The revenues derived from the project or projects orportion or portions of them, in connection with which the bonds or notes havebeen issued, may be pledged as provided in the resolution or the trustagreement. The pledge is valid and binding from the time when the pledge ismade; the rentals, revenues, or other moneys pledged, and received by theauthority, are immediately subject to the lien of the pledge without anyphysical delivery or further act, and the lien of any pledge is valid andbinding against all parties having claims of any kind in tort, contract, orotherwise against the authority, irrespective of whether the parties havenotice of the claims. Neither the resolution nor any trust agreement by which apledge is created need be filed or recorded except in the records of theauthority. The use and disposition of revenues are subject to the provisions ofthe resolution authorizing the issuance of the bonds or the trust agreement.