| The Rhode Island Refunding Bond Authority was created in 1987 as a public corporation, having a distinct legal existence from the state and not constituting a department of state government. It was created for the purpose of providing a means to advance refund two series of general obligation bonds (1984 and 1985) by the State of Rhode Island. The authority was authorized to issue bonds and notes secured solely by revenues derived from payments pursuant to a loan and trust agreement with the state, which are subject to annual appropriation. On July 1, 1997, the Rhode Island Public Buildings Authority was merged into the authority. As of June 30, 2010, total net debt of the authority has been repaid, with no further obligations planned. |
