=======

art.002/14/002/13/002/12/002/11/002/10/002/9/002/8/002/7/002/6/002/5/002/4/002/3/002/2/005/

1

=======

ARTICLE 2

RELATING TO CAPITAL DEVELOPMENT PROGRAM

SECTION 1. Proposition to be submitted to the people. -- At a special election to be

held on the Tuesday next after the first Monday in March 2021, there shall be submitted to the

people ("People") of the State of Rhode Island ("State"), for their approval or rejection, the

following proposition:

"Shall the action of the general assembly, by an act passed at the January 2020 session,

authorizing the issuance of bonds, refunding bonds, and temporary notes of the State of Rhode

Island for the capital projects and in the amount with respect to each such project listed below be

approved, and the issuance of bonds, refunding bonds, and temporary notes authorized in

accordance with the provisions of said act?"

Project

(1) Higher Education Facilities $107,300,000

Approval of this question will allow the State of Rhode Island to issue general obligation

bonds, refunding bonds, and/or temporary notes in an amount not to exceed one hundred seven

million three hundred thousand dollars ($107,300,000) for capital improvements to higher

education facilities, to be allocated as follows:

(a) University of Rhode Island Fine Arts Center $57,300,000

Provides fifty-seven million three hundred thousand dollars ($57,300,000) to fund repairs

and construct a new facility on the University of Rhode Island's Kingston campus in support of the

educational needs for the musical, theatrical, visual, and graphic arts disciplines.

(b) Rhode Island College Clarke Science Building Renovation $38,000,000

Provides thirty-eight million dollars ($38,000,000) to reconstruct Clarke Science Building

on the campus of Rhode Island College. This project will improve the science and technology

laboratories and facilities that support high-demand degree programs critical to the college's

mission of statewide workforce development.

(c) Community College of Rhode Island Renovation and Modernization $12,000,000

Provides twelve million dollars ($12,000,000) to fund restoration and enhancement of

academic and student support spaces and other infrastructure on the four campuses of the

Community College of Rhode Island (CCRI). Funds will go towards modernizing and renovating

facilities, addressing repairs, improving safety and energy efficiency, and replacing outdated

technology and equipment used for teaching and learning.

(2) Beach, Clean Water and Green Bond $74,000,000

Approval of this question will allow the State of Rhode Island to issue general obligation

bonds, refunding bonds, and/or temporary notes in an amount not to exceed seventy-four million

dollars ($74,000,000) for environmental and recreational purposes, to be allocated as follows:

(a) State Beaches, Parks, and Campgrounds $33,000,000

Provides thirty-three million dollars ($33,000,000) for major capital improvements to state

beaches, parks, and campgrounds, including the design, development, expansion, and renovation

of new and existing facilities. Improvements may include a new facility at Goddard Park beach;

recreational facility improvements, upgraded facilities including new bathrooms at Roger Wheeler

State beach, Scarborough State beach, Misquamicut State beach, and Brenton Point; and

campground improvements including new bathrooms facilities and utility upgrades.

(b) I-195 Park $4,000,000

Provides four million dollars ($4,000,000) for I-195 Park infrastructure development.

(c) Local Recreation Projects $4,000,000

Provides four million dollars ($4,000,000) for up to eighty percent (80%) matching grants

for municipalities to acquire, develop, or rehabilitate local recreational facilities to meet the

growing needs for active outdoor recreational facilities.

(d) Natural and Working Lands $3,000,000

Provides three million dollars ($3,000,000) to protect working forest and farm lands

throughout Rhode Island including through the purchase of forest conservation easements, the

purchase of development rights by the Agricultural Lands Preservation Commission, and the State

Farmland Access Program.

(e) Clean Water and Drinking Water $15,000,000

Provides fifteen million dollars ($15,000,000) for clean water and drinking water

infrastructure improvements. Clean water projects include wastewater collection and treatment

upgrades, stormwater resilience improvements, combined sewer overflow initiatives, water

pollution control, and other water quality protection activities. Drinking water projects include

construction of and improvements to water supply, treatment, and distribution infrastructure.

(f) Municipal Resiliency $7,000,000

Provides seven million dollars ($7,000,000) for up to seventy-five percent (75%) matching

grants to municipalities for restoring and/or improving resiliency of infrastructure, vulnerable

coastal habitats, and restoring rivers and stream floodplains. These funds are expected to leverage

significant matching funds to support local programs to improve community resiliency and public

safety in the face of increased flooding, major storm events, and environmental degradation.

(g) Providence River Dredging $6,000,000

Provides six million dollars ($6,000,000) for additional dredging analysis and the dredging

of the Downtown Providence Rivers.

(h) Woonasquatucket River Watershed $2,000,000

Provides for two million dollars ($2,000,000) in grants to the Woonasquatucket River

Watershed Council to develop, improve, or rehabilitate public recreational projects and

infrastructure along the Woonasquatucket River Greenway.

(3) Housing and Community Opportunity $65,000,000

Approval of this question will allow the State of Rhode Island to issue general obligation

bonds, refunding bonds, and/or temporary notes in an amount not to exceed sixty-five million

dollars ($65,000,000) to increase the availability of affordable housing and support community

revitalization through the redevelopment of existing structures, new construction, and property

acquisition.

(4) Transportation Infrastructure State Match $71,700,000

Approval of this question will allow the State of Rhode Island to issue general obligation

bonds, refunding bonds, and/or temporary notes in an amount not to exceed seventy-one million

seven hundred thousand dollars ($71,700,000) to match federal funds and provide direct funding

for needed and planned improvements to the state's transportation infrastructure, including ports,

highways, roads, and bridges. This investment will create jobs by continuing needed construction

throughout the state.

(5) Early Childhood Care and Education Capital Fund $15,000,000

Approval of this question will allow the State of Rhode Island to issue general obligation

bonds, refunding bonds, and/or temporary notes in an amount not to exceed fifteen million dollars

($15,000,000) for physical improvements to and development of licensed early childhood care and

education facilities through an Early Childhood Care and Education Capital Fund. Quality early

childhood education and child care is necessary for a robust economy in support of parents in the

workplace and as foundation to the academic success of Rhode Island's children. In 2019, only

twenty percent (20%) of the physical space licensed for the State's four-year-old population meets

the State definition of quality, and there are eighteen (18) cities and towns that do not have any

infant/toddler care options. These funds will support greater access to safe, high-quality early

learning opportunities for Rhode Island children.

(6) Cultural Arts and the Economy Grant Program and State Preservation

Grants Program $7,000,000

Approval of this question will allow the State of Rhode Island to issue general obligation

bonds, refunding bonds, and/or temporary notes in an amount not to exceed seven million dollars

($7,000,000) to fund the Cultural Arts and the Economy Grant Program and the State Preservation

Grants Program, to be allocated as follows:

(a) Cultural Arts and the Economy Grant Program $6,000,000

Provides six million dollars ($6,000,000) in funding for 1:1 matching grants to continue

the Cultural Arts and the Economy Grant Program administered by the Rhode Island State Council

on the Arts (RISCA) for capital improvement, preservation and renovation projects for public and

nonprofit artistic, performance centers, museums and cultural art centers located throughout the

State of Rhode Island.

1. Trinity Repertory Company $2,500,000

For the Lederer Theater and the Pell Chafee Performance Center, both in Providence, used

for performance facilities, educational instruction, production and administration.

2. Rhode Island Philharmonic $1,500,000

For the Carter Center for Music Education and Performance in East Providence, used for

music teaching, learning, performance and administration.

3. Other funds to be allocated by RISCA $2,000,000

For 1:1 matching grants to be allocated by RISCA to 501(c)(3) nonprofit cultural

organizations which lease or own their performance space, and for RISCA expenses in

administering the program. In awarding such grants RISCA shall consider financial need, the

availability or actual expenditure of matching funds for the projects, available gifts or grants for

projects, the amount of square footage to be improved, the geographical location and characteristics

of audiences benefitted.

(b) State Preservation Grants Program $1,000,000

Provides one million dollars ($1,000,000) in funding to cities, towns and nonprofit

organizations to preserve, renovate and improve public and nonprofit historic sites, museums, and

cultural art centers located in historic structures in the State of Rhode Island to be administered by

the Rhode Island Historical Preservation and Heritage Commission.

(7) Industrial Facilities Infrastructure $60,000,000

Approval of this question will allow the State of Rhode Island to issue general obligation

bonds, refunding bonds, and/or temporary notes in an amount not to exceed sixty million dollars

($60,000,000) to fund industrial facilities infrastructure improvements, to be allocated as follows:

(a) Industrial Site Development $40,000,000

Provides forty million dollars ($40,000,000) for the Quonset Development Corporation

(QDC) to competitively fund, acquire, assemble, prepare, expand and/or develop industrial sites

and facilities statewide for purposes related to manufacturing, assembly, distribution, production,

processing, offshore wind, and other job-producing activities. QDC shall negotiate and execute a

Rhode Island benefits agreement with projects in which QDC makes a direct investment. QDC, as

part of its due diligence, shall also administer small grants for pre-development purposes.

(b) Port of Davisville Infrastructure at Quonset $20,000,000

Provides twenty million dollars ($20,000,000) for infrastructure projects that will support

the continued growth and modernization at the Port of Davisville. This investment will finance the

Port master plan, including construction of a new Pier at Terminal Five, the rehabilitation of Pier

One and dredging. These projects will position Davisville to accommodate offshore wind project

cargo and logistics staging while continuing to support the Port's existing businesses.

SECTION 2. Ballot labels and applicability of general election laws. -- The Secretary of

State shall prepare and deliver to the State Board of Elections ballot labels for each of the projects

provided for in Section 1 hereof with the designations "approve" or "reject" provided next to the

description of each such project to enable voters to approve or reject each such proposition. The

general election laws, so far as consistent herewith, shall apply to this proposition.

SECTION 3. Approval of projects by people. -- If a majority of the People voting on the

proposition in Section 1 hereof shall vote to approve any project stated therein, said project shall

be deemed to be approved by the People. The authority to issue bonds, refunding bonds and/or

temporary notes of the State shall be limited to the aggregate amount for all such projects as set

forth in the proposition, which has been approved by the People.

SECTION 4. Bonds for capital development program. -- The General Treasurer is hereby

authorized and empowered, with the approval of the Governor, and in accordance with the

provisions of this Act to issue capital development bonds in serial form, in the name of and on

behalf of the State of Rhode Island, in amounts as may be specified by the Governor in an aggregate

principal amount not to exceed the total amount for all projects approved by the People and

designated as "capital development loan of 2020 bonds." Provided, however, that the aggregate

principal amount of such capital development bonds and of any temporary notes outstanding at any

one time issued in anticipation thereof pursuant to Section 7 hereof shall not exceed the total amount

for all such projects approved by the People. All provisions in this Act relating to "bonds" shall

also be deemed to apply to "refunding bonds."

Capital development bonds issued under this Act shall be in denominations of one thousand

dollars ($1,000) each, or multiples thereof, and shall be payable in any coin or currency of the

United States which at the time of payment shall be legal tender for public and private debts. These

capital development bonds shall bear such date or dates, mature at specified time or times, but not

mature beyond the end of the twentieth (20th) State fiscal year following the fiscal year in which

they are issued; bear interest payable semi-annually at a specified rate or different or varying rates:

be payable at designated time or times at specified place or places; be subject to express terms of

redemption or recall, with or without premium; be in a form, with or without interest coupons

attached; carry such registration, conversion, reconversion, transfer, debt retirement, acceleration

and other provisions as may be fixed by the General Treasurer, with the approval by the Governor,

upon each issue of such capital development bonds at the time of each issue. Whenever the

Governor shall approve the issuance of such capital development bonds, the Governor's approval

shall be certified to the Secretary of State; the bonds shall be signed by the General Treasurer and

countersigned by Secretary of State and shall bear the seal of the State. The signature approval of

the Governor shall be endorsed on each bond.

SECTION 5. Refunding bonds for 2020 capital development program. -- The General

Treasurer is hereby authorized and empowered, with the approval of the Governor, and in

accordance with the provisions of this Act, to issue bonds to refund the 2020 capital development

program bonds, in the name of and on behalf of the state, in amounts as may be specified by the

Governor in an aggregate principal amount not to exceed the total amount approved by the People,

to be designated as "capital development program loan of 2020 refunding bonds" (hereinafter

"Refunding Bonds").

The General Treasurer with the approval of the Governor shall fix the terms and form of

any Refunding Bonds issued under this Act in the same manner as the capital development bonds

issued under this Act, except that the Refunding Bonds may not mature more than twenty (20) years

from the date of original issue of the capital development bonds being refunded.

The proceeds of the Refunding Bonds, exclusive of any premium and accrual interest and

net the underwriters' cost, and cost of bond issuance, shall, upon their receipt, be paid by the General

Treasurer immediately to the paying agent for the capital development bonds which are to be called

and prepaid. The paying agent shall hold the Refunding Bond proceeds in trust until they are applied

to prepay the capital development bonds. While such proceeds are held in trust, the proceeds may

be invested for the benefit of the State in obligations of the United States of America or the State

of Rhode Island.

If the General Treasurer shall deposit with the paying agent for the capital development

bonds the proceeds of the Refunding Bonds, or proceeds from other sources, amounts that, when

invested in obligations of the United States or the State of Rhode Island, are sufficient to pay all

principal, interest, and premium, if any, on the capital development bonds until these bonds are

called for prepayment, then such capital development bonds shall not be considered debts of the

State of Rhode Island for any purpose starting from the date of deposit of such moneys with the

paying agent. The Refunding Bonds shall continue to be a debt of the State until paid.

The term "bond" shall include "note," and the term "refunding bonds" shall include

"refunding notes" when used in this Act.

SECTION 6. Proceeds of capital development program. -- The General Treasurer is

directed to deposit the proceeds from the sale of capital development bonds issued under this Act,

exclusive of premiums and accrued interest and net the underwriters' cost, and cost of bond

issuance, in one or more of the depositories in which the funds of the State may be lawfully kept in

special accounts (hereinafter cumulatively referred to as "such capital development bond fund")

appropriately designated for each of the projects set forth in Section 1 hereof which shall have been

approved by the People to be used for the purpose of paying the cost of all such projects so

approved.

All monies in the capital development bond fund shall be expended for the purposes

specified in the proposition provided for in Section 1 hereof under the direction and supervision of

the Director of Administration (hereinafter referred to as "Director"). The Director or his or her

designee shall be vested with all power and authority necessary or incidental to the purposes of this

Act, including but not limited to, the following authority: (a) to acquire land or other real property

or any interest, estate or right therein as may be necessary or advantageous to accomplish the

purposes of this Act; (b) to direct payment for the preparation of any reports, plans and

specifications, and relocation expenses and other costs such as for furnishings, equipment

designing, inspecting and engineering, required in connection with the implementation of any

projects set forth in Section 1 hereof; (c) to direct payment for the costs of construction,

rehabilitation, enlargement, provision of service utilities, and razing of facilities, and other

improvements to land in connection with the implementation of any projects set forth in Section 1

hereof; and (d) to direct payment for the cost of equipment, supplies, devices, materials and labor

for repair, renovation or conversion of systems and structures as necessary for the 2020 capital

development program bonds or notes hereunder from the proceeds thereof. No funds shall be

expended in excess of the amount of the capital development bond fund designated for each project

authorized in Section 1 hereof. With respect to the bonds and temporary notes described in Section

1, the proceeds shall be used for the following purposes:

Question 1, relating to bonds in the amount of one hundred seven million three hundred

thousand dollars ($107,300,000) to provide funding for higher education facilities to be allocated

as follows:

(a) University of Rhode Island Fine Arts Center $57,300,000

Provides fifty-seven million three hundred thousand dollars ($57,300,000) to fund repairs

and construct a new facility on the University of Rhode Island's Kingston campus in support of the

educational needs for the musical, theatrical, visual, and graphic arts disciplines.

(b) Rhode Island College Clarke Science Building Renovation $38,000,000

Provides thirty-eight million dollars ($38,000,000) to reconstruct Clarke Science Building

on the campus of Rhode Island College. This project will improve the science and technology

laboratories and facilities that support high-demand degree programs critical to the college's

mission of statewide workforce development.

(c) Community College of Rhode Island Renovation and Modernization $12,000,000

Provides twelve million dollars ($12,000,000) to fund restoration and enhancement of

academic and student support spaces and other infrastructure on the four campuses of the

Community College of Rhode Island (CCRI). Funds will go towards modernizing and renovating

facilities, addressing repairs, improving safety and energy efficiency, and replacing outdated

technology and equipment used for teaching and learning.

Question 2, relating to bonds in the amount of seventy-four million dollars ($74,000,000)

for environmental and recreational purposes, to be allocated as follows:

(a) State Beaches, Parks, and Campgrounds $33,000,000

Provides thirty-three million dollars ($33,000,000) for major capital improvements to state

beaches, parks, and campgrounds, including the design, development, expansion, and renovation

of new and existing facilities. Improvements may include a new facility at Goddard Park beach;

recreational facility improvements, upgraded facilities including new bathrooms at Roger Wheeler

State beach, Scarborough State beach, Misquamicut State beach, and Brenton Point; and

campground improvements including new bathrooms facilities and utility upgrades.

(b) I-195 Park $4,000,000

Provides four million dollars ($4,000,000) for I-195 Park infrastructure development.

(c) Local Recreation Projects $4,000,000

Provides four million dollars ($4,000,000) for up to eighty percent (80%) matching grants

for municipalities to acquire, develop, or rehabilitate local recreational facilities to meet the

growing needs for active outdoor recreational facilities.

(d) Natural and Working Lands $3,000,000

Provides three million dollars ($3,000,000) to protect working forest and farm lands

throughout Rhode Island including through the purchase of forest conservation easements, the

purchase of development rights by the Agricultural Lands Preservation Commission, and the State

Farmland Access Program.

(e) Clean Water and Drinking Water $15,000,000

Provides fifteen million dollars ($15,000,000) for clean water and drinking water

infrastructure improvements. Clean water projects include wastewater collection and treatment

upgrades, stormwater resilience improvements, combined sewer overflow initiatives, water

pollution control, and other water quality protection activities. Drinking water projects include

construction of and improvements to water supply, treatment, and distribution infrastructure.

(f) Municipal Resiliency Projects $7,000,000

Provides seven million dollars ($7,000,000) for up to seventy-five percent (75%) matching

grants to municipalities for restoring and/or improving resiliency of infrastructure, vulnerable

coastal habitats, and restoring rivers and stream floodplains. These funds are expected to leverage

significant matching funds to support local programs to improve community resiliency and public

safety in the face of increased flooding, major storm events, and environmental degradation.

(g) Providence River Dredging $6,000,000

Provides six million dollars ($6,000,000) for additional dredging analysis and the dredging

of the Downtown Providence Rivers.

(h) Woonasquatucket River Watershed $2,000,000

Provides for two million dollars ($2,000,000) in grants to the Woonasquatucket River

Watershed Council to develop, improve, or rehabilitate public recreational projects and

infrastructure along the Woonasquatucket River Greenway.

Question 3, relating to bonds in the amount of sixty-five million dollars ($65,000,000) to

increase the availability of affordable housing and support community revitalization through the

redevelopment of existing structures, new construction, and property acquisition.

Question 4, relating to bonds in the amount of seventy-one million seven hundred thousand

dollars ($71,700,000) to match federal funds and provide direct funding for needed and planned

improvements to the state's transportation infrastructure, including ports, highways, roads and

bridges. This investment will create jobs by continuing needed construction throughout the state.

Question 5, relating to bonds in the amount of fifteen million dollars ($15,000,000) for

physical improvements to and development of early childhood education facilities through an Early

Childhood Care and Education Capital Fund. Quality early childhood education and child care is

necessary for a robust economy in support of parents in the workplace and as foundation to the

academic success of Rhode Island's children. In 2019, only twenty percent (20%) of the physical

space licensed for the State's four-year-old population meets the State definition of quality, and

there are eighteen (18) cities and towns that do not have any infant/toddler care options. These

funds will support greater access to safe, high-quality early learning opportunities for Rhode Island

children.

Question 6, relating to bonds in the amount of seven million dollars ($7,000,000) to fund

the Cultural Arts and the Economy Grant Program and the State Preservation Grants Program, to

be allocated as follows:

(a) Cultural Arts and the Economy Grant Program $6,000,000

Provides funds for 1:1 matching grants to continue the Cultural Arts and the Economy

Grant program administered by the Rhode Island State Council on the Arts (RISCA) for capital

improvement, preservation and renovation projects for public and nonprofit artistic, performance

centers and cultural art centers located throughout the State of Rhode Island. Contracts for

construction entered into, on, or after November 6, 2014 shall be in compliance with § 37-13-1 et

seq. (prevailing wage); however, contracts entered into prior to November 6, 2014 shall not be

subject to this requirement.

1. Trinity Repertory Company $2,500,000

For the Lederer Theater, in Providence, used for performance facilities, educational

instruction, production and administration.

2. Rhode Island Philharmonic $1,500,000

For the Carter Center for Music Education and Performance in East Providence, used for

music teaching, learning, performance and administration.

3. Other funds to be allocated by RISCA $2,000,000

For 1:1 matching grants to be allocated by RISCA to 501(c)(3) nonprofit cultural

organizations which lease or own their performance space, and for RISCA expenses in

administering the program. In awarding such grants RISCA shall consider financial need, the

availability or actual expenditure of matching funds for the projects, available gifts or grants for

projects, the amount of square footage to be improved, the geographical location and characteristics

of audiences benefitted.

(b) State Preservation Grants Program $1,000,000

Provides one million dollars ($1,000,000) in funding to cities, towns and nonprofit

organizations to preserve, renovate and improve public and nonprofit historic sites, museums, and

cultural art centers located in historic structures in the State of Rhode Island to be administered by

the Rhode Island Historical Preservation and Heritage Commission.

Question 7, relating to bonds in the amount of sixty million dollars ($60,000,000) to fund

industrial facilities infrastructure improvements, to be allocated as follows:

(a) Industrial Site Development $40,000,000

Provides forty million dollars ($40,000,000) for the Quonset Development Corporation

(QDC) to competitively fund, acquire, assemble, prepare, expand and/or develop industrial sites

and facilities statewide for purposes related to manufacturing, assembly, distribution, production,

processing, offshore wind, and other job-producing activities. QDC shall negotiate and execute a

Rhode Island benefits agreement with projects in which QDC makes a direct investment. QDC, as

part of its due diligence, shall also administer small grants for pre-development purposes.

(b) Port of Davisville Infrastructure at Quonset $20,000,000

Provides twenty million dollars ($20,000,000) for infrastructure projects that will support

the continued growth and modernization at the Port of Davisville. This investment will finance the

Port master plan, including construction of a new Pier at Terminal Five, the rehabilitation of Pier

One and dredging. These projects will position Davisville to accommodate offshore wind project

cargo and logistics staging while continuing to support the Port's existing businesses.

SECTION 7. Sale of bonds and notes. -- Any bonds or notes issued under the authority of

this Act shall be sold at not less than the principal amount thereof, in such mode and on such terms

and conditions as the General Treasurer, with the approval of the Governor, shall deem to be in the

best interests of the State.

Any premiums and accrued interest, net of the cost of bond issuance and underwriter's

discount, which may be received on the sale of the capital development bonds or notes shall become

part of the Rhode Island Capital Plan Fund of the State, unless directed by federal law or regulation

to be used for some other purpose.

In the event that the amount received from the sale of the capital development bonds or

notes exceeds the amount necessary for the purposes stated in Section 6 hereof, the surplus may be

used to the extent possible to retire the bonds as the same may become due, to redeem them in

accordance with the terms thereof or otherwise to purchase them as the General Treasurer, with the

approval of the Governor, shall deem to be in the best interests of the state.

Any bonds or notes issued under the provisions of this Act and coupons on any capital

development bonds, if properly executed by the manual or electronic signatures of officers of the

State in office on the date of execution, shall be valid and binding according to their tenor,

notwithstanding that before the delivery thereof and payment therefor, any or all such officers shall

for any reason have ceased to hold office.

SECTION 8. Bonds and notes to be tax exempt and general obligations of the State. --

All bonds and notes issued under the authority of this Act shall be exempt from taxation in the State

and shall be general obligations of the State, and the full faith and credit of the State is hereby

pledged for the due payment of the principal and interest on each of such bonds and notes as the

same shall become due.

SECTION 9. Investment of moneys in fund. -- All moneys in the capital development

fund not immediately required for payment pursuant to the provisions of this act may be invested

by the investment commission, as established by Chapter 10 of Title 35, entitled "State Investment

Commission," pursuant to the provisions of such chapter; provided, however, that the securities in

which the capital development fund is invested shall remain a part of the capital development fund

until exchanged for other securities; and provided further, that the income from investments of the

capital development fund shall become a part of the general fund of the State and shall be applied

to the payment of debt service charges of the State, unless directed by federal law or regulation to

be used for some other purpose, or to the extent necessary, to rebate to the United States treasury

any income from investments (including gains from the disposition of investments) of proceeds of

bonds or notes to the extent deemed necessary to exempt (in whole or in part) the interest paid on

such bonds or notes from federal income taxation.

SECTION 10. Appropriation. -- To the extent the debt service on these bonds is not

otherwise provided, a sum sufficient to pay the interest and principal due each year on bonds and

notes hereunder is hereby annually appropriated out of any money in the treasury not otherwise

appropriated.

SECTION 11. Advances from general fund. -- The General Treasurer is authorized, with

the approval of the Director and the Governor, in anticipation of the issue of notes or bonds under

the authority of this Act, to advance to the capital development bond fund for the purposes specified

in Section 6 hereof, any funds of the State not specifically held for any particular purpose; provided,

however, that all advances made to the capital development bond fund shall be returned to the

general fund from the capital development bond fund forthwith upon the receipt by the capital

development fund of proceeds resulting from the issue of notes or bonds to the extent of such

advances.

SECTION 12. Federal assistance and private funds. -- In carrying out this act, the

Director, or his or her designee, is authorized on behalf of the State, with the approval of the

Governor, to apply for and accept any federal assistance which may become available for the

purpose of this Act, whether in the form of loan or grant or otherwise, to accept the provision of

any federal legislation therefor, to enter into, act and carry out contracts in connection therewith,

to act as agent for the federal government in connection therewith, or to designate a subordinate so

to act. Where federal assistance is made available, the project shall be carried out in accordance

with applicable federal law, the rules and regulations thereunder and the contract or contracts

providing for federal assistance, notwithstanding any contrary provisions of State law. Subject to

the foregoing, any federal funds received for the purposes of this Act shall be deposited in the

capital development bond fund and expended as a part thereof. The Director or his or her designee

may also utilize any private funds that may be made available for the purposes of this Act.

SECTION 13. Special Election Finding. -- In accordance with § 35-3-7.1(c), the general

assembly finds a compelling need for the public health, safety, or welfare to present this capital

referendum at a special election.

SECTION 14. Predominantly Mail Ballot Election. -- In order to protect the health,

safety and welfare of the residents of Rhode Island who continue to be exposed to a pandemic

caused by COVID-19, the Special Election shall be a predominantly mail ballot election. Any

requirement relating to the witnessing or notarization of regular mail ballots as set forth in §§ 17-

20-2.1, 17-20-2.2 and 17-20-23 or in any other provision of title 17 of the general laws shall be

waived. The Board of Elections and local boards of canvassers, working in conjunction with the

Secretary of State, shall also be authorized to utilize the other modified election procedures of the

2020 Primary and/or General Election, including those implemented pursuant to Executive Orders,

notwithstanding any law inconsistent with those procedures, in order to effectuate a predominantly

mail ballot election.

SECTION 15. Effective Date. -- Sections 1, 2, 3, 11, 12, 13, 14 and this Section 15 of this

article shall take effect upon passage. The remaining sections of this article shall take effect when

and if the State Board of Elections shall certify to the Secretary of State that a majority of the

qualified electors voting on the proposition contained in Section 1 hereof have indicated their

approval of all or any projects thereunder.