§ 42-113-5 - Creation of Rhode Island housing and conservation trust fund.
SECTION 42-113-5
§ 42-113-5 Creation of Rhode Islandhousing and conservation trust fund. – (a) There is created a special account in the state general fund to be known asthe "Rhode Island housing and conservation trust fund." The fund isadministered by the board and expenditures from the fund are made only toimplement and effectuate the policies and purposes of this chapter. The boardis authorized to accept any private grant, devise, bequest, donation, gift, orassignment of money, bonds, or other valuable securities for deposit in andcredit of the Rhode Island housing and conservation trust fund.
(b) Unexpended balances and any earnings shall not revert tothe general fund but shall remain in the fund for use in accord with thepurposes of this chapter.
(c) The members of the board and the executive director shallbe appointed upon June 23, 1994.