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2013 -- S 0398 | |
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LC01785 | |
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STATE OF RHODE ISLAND | |
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IN GENERAL ASSEMBLY | |
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JANUARY SESSION, A.D. 2013 | |
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A N A C T | |
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IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44 | |
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APPROVING THE ISSUANCE OF $1,850,000 BONDS BY THE TOWN OF PORTSMOUTH | |
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TO FINANCE IMPROVEMENTS AND FIRE CODE UPGRADES TO SCHOOL BUILDINGS | |
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INCLUDING BUT NOT LIMITED TO BONDS AND NOTES ISSUED PURSUANT TO | |
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FINANCING AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL | |
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BUILDING CORPORATION | |
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Introduced By: Senator Christopher S. Ottiano | |
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Date Introduced: February 26, 2013 | |
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Referred To: Senate Finance | |
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It is enacted by the General Assembly as follows: | |
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SECTION 1. As previously authorized by an ordinance adopted by the Town on January |
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30, 2013, and Rhode Island general laws section 45-12-2, the Town of Portsmouth was |
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empowered to issue bonds to an amount not exceeding three hundred fifty thousand dollars |
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($350,000), from time to time to finance improvements to school buildings. |
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SECTION 2. As previously authorized by an ordinance adopted by the Town on January |
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30, 2013 and Rhode Island general laws section 45-12-2, the Town of Portsmouth was |
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empowered to issue bonds to an amount not exceeding seven hundred fifty thousand dollars |
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($750,000), from time to time to finance fire code upgrades at Melville Elementary School. |
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SECTION 3. As previously authorized by an ordinance adopted by the Town on January |
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30, 2013 and Rhode Island general laws section 45-12-2, the Town of Portsmouth was |
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empowered to issue bonds to an amount not exceeding seven hundred fifty thousand dollars |
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($750,000), from time to time to finance fire code upgrades at Hathaway Elementary School. |
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SECTION 4. In accordance with section 16-7-44 of the general laws, the principal and |
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interest on such bonds shall be eligible for state housing aid reimbursement. |
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SECTION 5. This act serves as the enabling act required by Rhode Island general laws |
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section 16-7-44 and shall take effect upon passage. |
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LC01785 | |
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EXPLANATION | |
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BY THE LEGISLATIVE COUNCIL | |
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OF | |
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A N A C T | |
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IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44 | |
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APPROVING THE ISSUANCE OF $1,850,000 BONDS BY THE TOWN OF PORTSMOUTH | |
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TO FINANCE IMPROVEMENTS AND FIRE CODE UPGRADES TO SCHOOL BUILDINGS | |
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INCLUDING BUT NOT LIMITED TO BONDS AND NOTES ISSUED PURSUANT TO | |
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FINANCING AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL | |
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BUILDING CORPORATION | |
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*** | |
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This act would serve as the enabling act required by Rhode Island general laws section |
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16-7-44 in order for the principal and interest on bonds issued in support of school housing |
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projects to be eligible for state housing aid reimbursement. |
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This act would take effect upon passage. |
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LC01785 | |
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