§ 46-25-9 - Appropriated moneys and advances from general fund.
SECTION 46-25-9
§ 46-25-9 Appropriated moneys and advancesfrom general fund. – (a) The commission is authorized to accept such moneys as may be appropriatedfrom time to time by the general assembly for the carrying out of its dutieshereunder including, without limitation, the payment of the initial expenses ofadministration and operation; provided, however, that any such appropriationshall be considered as a loan to the commission from the general fund of thestate and shall be returned thereto when the commission is self supporting orat such time as may otherwise be stipulated in the act appropriating the money.
(b) The commission is further authorized to accept advancesor loans of funds from the general fund of the state:
(i) In anticipation of the receipt of federal funds; and
(ii) For the purpose of meeting debt service liabilities andproviding for the construction, maintenance, or operation of the project duringsuch periods of time as the fund may be insufficient for those purposes and, atthe request of the commission, the director of the department of administrationis authorized and empowered, with the approval of the governor, to make thoseadvances.
(2) Provided, however, that the advances shall be returned tothe general fund at such time or times as the director shall have specified,and that the total amount of the advances outstanding and unreturned at any onetime shall not exceed three million dollars ($3,000,000); and, however, for theperiod May 1, 1989 through June 30, 1991 the advance shall not exceed threemillion six hundred seventy-five thousand dollars ($3,675,000) provided thatsubject to the report and order of the public utilities commission in docketNo. 1968, the commission may issue revenue bonds or notes for the purpose ofrepaying the advances from the general fund of the state of Rhode Islandprovided under this chapter, in an aggregate principal amount not to exceedthree million six hundred seventy-five thousand dollars ($3,675,000) inaccordance with the provisions of § 46-25-58 except that notwithstandingsubsections (c) and (d) of § 46-25-58, such revenue bonds or notes,including all refundings and renewals thereof, shall be payable in suchinstallments and at such times not exceeding three (3) years from the date ofthe original issue of such revenue bonds or notes. The state controller ishereby authorized and directed to draw his or her orders upon the generaltreasurer for the payment of the advances upon receipt by the controller ofproper vouchers signed by the director of the department of administration andapproved by the governor.