§46-3-15  Application of assessment proceeds. –

Published: 2015

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Shore Development

SECTION 46-3-15

   § 46-3-15  Application of assessment

proceeds. –

The proceeds of the assessments, whether or not pledged for the payment of

securities, shall be segregated from other funds of the municipality, and shall

be used only to pay for the construction of the erosion control system or

particular portion thereof in respect to which the assessments are made or, as

the case may be, for the payment of the interest on, or principal of, any

securities issued to pay for the system or particular part thereof.

History of Section.

(P.L. 1956, ch. 3837, § 10; G.L. 1956, § 46-3-15.)