Rhode Island Code of Regulations
Title 120 - Treasury Department
Chapter 00 - N/A
Subchapter 00 - N/A
Part 4 - Rules and Regulations Governing the Public Finance Management Board (120-RICR-00-00-4)
Section 120-RICR-00-00-4.10 - Fees
Current through September 18, 2024
A. The lead underwriter or purchaser of any taxable or tax exempt debt issue of the state, all state departments, any city or town, any state, municipal and regional authorities, agencies, boards, commissions, public or quasi-public corporations, and fire districts and other special districts shall pay to the Public Finance Management Board an amount equal to one-fortieth of one percent (1/40%) of the issued principal amount of the issue; provided, however, if a governmental entity is the purchaser of another governmental debt obligation which serves as underlying security for a related debt issuance, the governmental entity shall be exempt from the assessed fee on the purchase of the underlying obligation.
B. Amounts received under this Section shall be deposited in the Public Finance Management Board Fund (the "Fund") in the State Treasury.
C. The General Treasurer is authorized to draw upon the Fund, in accordance with applicable rules and procedures, to pay for the expenses incurred by the Board and by the General Treasurer's Office in carrying out the purposes of R.I. Gen. Laws Chapter 42-10.1.
