R.I. Gen. Laws § 45-37.1-10
Bonds and notes issued by the corporation under the provisions of this chapter are securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, credit unions, building and loan associations, trust companies, banking associations, investment companies, executors, administrators, trustees, and other fiduciaries, pension, profit sharing and retirement funds may properly and legally invest funds, including capital in their control or belonging to them. These bonds and notes are securities which may properly and legally be deposited with and received by any state or municipal officer, or any agency or political subdivision of the state, for any purpose for which the deposit of bonds or obligations of the state is now or may be authorized by law.
R.I. Gen. Laws § 45-37.1-10