All money of the authority from whatever source derived, shall be paid to the treasurer of the authority. The money on receipt shall be deposited forthwith in a separate bank account or accounts. The money in the account shall be paid out on a check of the treasurer on requisition by the authority, or of such other person or persons as the authority may authorize to make the requisitions. All deposit of the money shall be secured by obligations of the United States or the state of Rhode Island with a market value equal at all times to the amount of deposits, and all banks and trust companies are authorized to give securities for any deposits. The authority shall have power as to the custody, collection, security, investment, and payment of any money within its jurisdiction.
History of Section.
P.L. 1972, ch. 111, § 1; P.L. 1990, ch. 147, § 1.