Chapter 284
2009 -- H 6444
Enacted 11/13/09
A N A C T
IN ACCORDANCE
WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44 APPROVING THE ISSUANCE OF
$350,000 BONDS BY THE TOWN OF PORTSMOUTH TO FINANCE IMPROVEMENTS TO SCHOOL
BUILDINGS INCLUDING BUT NOT LIMITED TO BONDS AND NOTES ISSUED PURSUANT TO
FINANCING AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING
CORPORATION
Introduced By: Representatives A Rice, Edwards, Gallison, and Loughlin
Date Introduced: October 28, 2009
It is enacted by the
General Assembly as follows:
SECTION 1. As previously authorized by the 2009-2010
Operating Budget for the Town
adopted by ordinance on June 22, 2009, a resolution of the
Town Council adopted July 27, 2009
and Rhode Island General Laws section 45-12-2, the Town
of
issue bonds to an amount not exceeding three hundred fifty
thousand dollars ($350,000), or such
lesser amount as is determined by resolution of the Town
Council, from time to time under its
corporate name and seal.
SECTION 2. In accordance with section 16-7-44 of the general
laws, the interest on such
bonds shall be eligible for state housing aid
reimbursement.
SECTION 3. This act serves as the enabling act required by
section 16-7-44 and shall take effect upon passage.
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LC02968
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