| LA 006 |
| 2025 -- H 5703 Enacted 04/18/2025 |
| A N A C T |
| RELATING TO THE KINGSTON WATER DISTRICT -- BONDS |
Introduced By: Representatives Fogarty, McEntee, Tanzi, Shallcross Smith, Carson, Donovan, Spears, Cotter, Caldwell, and Cortvriend |
| Date Introduced: February 26, 2025 |
| It is enacted by the General Assembly as follows: |
| SECTION 1. Section 9 of Chapter 105 of the 1990 Public Laws entitled "An Act to |
| Incorporate the Kingston Water District," as amended by Chapter 38 of the 2008 Public Laws and |
| Chapter 34 of the 2011 Public Laws entitled "An Act Relating to the Kingston Water District – |
| Bonds," is hereby further amended to read as follows: |
| Section 9. For the purpose of raising money to carry the provisions of this act into effect, |
| said district is hereby authorized and empowered from time to time to borrow not exceeding the |
| sum of four million dollars ($4,000,000) fifteen million dollars ($15,000,000) and to issue its notes |
| and/or bonds therefor, and to renew any such notes and/or bonds from time to time as the same |
| become due. All moneys raised by the authority hereof shall be exclusively used and expended for |
| said purpose. The said district at any regular annual meeting or at any special meeting, the notice |
| for which contained notice of intention to act upon the issuance of bonds, shall cause any bonds |
| issued by authority hereof to be issued for such time, on such terms and in such amounts, not to |
| exceed said sum of four million dollars ($4,000,000) fifteen million dollars ($15,000,000), as shall |
| be fixed by vote of its qualified electors; and after any issue of any such bonds, said district shall |
| annually appropriate, so long as such bonds are outstanding, a sum to pay interest and principal or |
| sinking fund installments thereon. |
| SECTION 2. This act shall take effect upon passage. |
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| LC001706 |
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