2024 -- S 2862 | |
======== | |
LC005649 | |
======== | |
STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2024 | |
____________ | |
A N A C T | |
IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS § 16-7-44, APPROVING THE | |
ISSUANCE OF $6,400,000 BONDS BY THE TOWN OF BURRILLVILLE TO FINANCE THE | |
CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, | |
LANDSCAPING, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL | |
FACILITIES THROUGHOUT THE TOWN, AND ALL ATTENDANT EXPENSES | |
INCLUDING, BUT NOT LIMITED TO, ENGINEERING AND ARCHITECTURAL COSTS | |
| |
Introduced By: Senator Jessica de la Cruz | |
Date Introduced: March 22, 2024 | |
Referred To: Senate Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. The Town of Burrillville is authorized and empowered to issue bonds to an |
2 | amount not exceeding six million four hundred thousand dollars ($6,400,000), from time to time |
3 | under its corporate name and seal, pursuant to a resolution to be adopted by the Town in accordance |
4 | with Section 3.14(L) of the Burrillville Home Rule Charter and Rhode Island General Laws §45- |
5 | 12-2 to finance the construction, renovation, improvement, alteration, repair, landscaping, |
6 | furnishing and equipping of schools and school facilities throughout the Town, and all attendant |
7 | expenses including, but not limited to, engineering and architectural costs. |
8 | SECTION 2. In accordance with § 16-7-44 of the general laws, the principal of and interest |
9 | on such bonds shall be eligible for state housing aid reimbursement; provided that, the bonds are |
10 | issued through the Rhode Island Health and Educational Building Corporation. |
11 | SECTION 3. This project, which was approved by the Council on Elementary and |
12 | Secondary Education on or about December 19, 2023, shall be and remain eligible for school |
13 | housing aid. |
| |
1 | SECTION 4. This act serves as the enabling act required by Rhode Island General Laws § |
2 | 16-7-44 and shall take effect upon passage. |
======== | |
LC005649 | |
======== | |
| LC005649 - Page 2 of 3 |
EXPLANATION | |
OF | |
A N A C T | |
IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS § 16-7-44, APPROVING THE | |
ISSUANCE OF $6,400,000 BONDS BY THE TOWN OF BURRILLVILLE TO FINANCE THE | |
CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, | |
LANDSCAPING, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL | |
FACILITIES THROUGHOUT THE TOWN, AND ALL ATTENDANT EXPENSES | |
INCLUDING, BUT NOT LIMITED TO, ENGINEERING AND ARCHITECTURAL COSTS | |
*** | |
1 | This act serves as the enabling act required by Rhode Island General Laws § 16-7-44 in |
2 | order for the principal of, and interest on bonds issued by the Town of Burrillville in support of |
3 | school housing projects to be eligible for state housing aid reimbursement, provided that the bonds |
4 | are issued through the Rhode Island Health and Educational Building Corporation. |
5 | This act shall take effect upon passage. |
======== | |
LC005649 | |
======== | |
| LC005649 - Page 3 of 3 |