§ 24-12-40.A - Title to Mount Hope Bridge vested in Rhode Island turnpike and bridge authority – Continuation of tolls.
SECTION 24-12-40.A
§ 24-12-40.A Title to Mount Hope Bridgevested in Rhode Island turnpike and bridge authority – Continuation oftolls. – All powers, control, and jurisdiction of and title to the Mount Hope Bridge ishereby affirmed as having vested in the Rhode Island turnpike and bridgeauthority as of June 1, 1964, and the transfer of funds to the authority by thetrustee under the trust indenture securing the Mount Hope Bridge revenue bondsis hereby ratified and affirmed. The authority shall continue to charge andcollect tolls for the use of the Mount Hope Bridge to provide funds sufficientwith any other monies available therefor for paying the costs of maintaining,repairing, and operating the bridge, and in any event tolls for the use of theMount Hope Bridge shall continue until a fund shall be provided for the paymentof engineering, financing, and legal services in connection with the financingand construction of the Newport Bridge. The power and right of the authority tocollect and to use tolls collected for the use of the Mount Hope Bridgesubsequent to June 1, 1964 for the purpose of payment of engineering,financial, and legal services in connection with the financing and constructionof the Newport Bridge in an amount heretofore expended not in excess of sixhundred thousand dollars ($600,000) is hereby ratified and affirmed.