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§45-54-12  Revenues. –

Published: 2015

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Towns and cities


Municipal Detention Facility Corporations

SECTION 45-54-12

   § 45-54-12  Revenues. –

(a) The corporation is authorized and empowered to fix, revise, and collect

from time to time, subject to the provisions of this chapter, fees, rentals,

and other charges for the use of projects of, or the services rendered by the

corporation to pay:

   (1) The cost of maintaining, repairing, and operating the

project or projects or portion or portions of them; and

   (2) The principal of, premium, if any, and interest on the

bonds and notes as the bonds and notes become due and payable, and to create

reserves for these purposes.

   (b) The fees, rentals, and other charges are not subject to

supervision or regulation by any commission, board, bureau, or agency of the

state or of any municipality or other political subdivision of the state.

   (c) The revenues derived from the project or projects or

portion or portions of them, in connection with which the bonds or notes have

been issued, may be pledged as provided in the resolution or the trust

agreement. The pledge is valid and binding from the time when the pledge is

made; the rentals, revenues, or other moneys so pledged and thereafter received

by the corporation are immediately subject to the lien of the pledge without

any physical delivery or further act, and the lien of any pledge is valid and

binding against all parties having claims of any kind in tort, contract, or

otherwise against the corporation, whether the parties have notice of claims.

Neither the resolution nor any trust agreement by which a pledge is created

need be filed or recorded except in the records of the corporation.

   (d) The use and disposition of revenues is subject to the

provisions of the resolution authorizing the issuance of the bonds, or of the

trust agreement.

History of Section.

(P.L. 1991, ch. 421, § 1.)