2024 -- S 3091

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LC006165

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2024

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A N   A C T

IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44

APPROVING THE ISSUANCE OF $3,500,000 BONDS BY THE TOWN OF SCITUATE TO

FINANCE CAPITAL PROJECTS AT THE SCITUATE SCHOOLS

     Introduced By: Senator Gordon E. Rogers

     Date Introduced: May 24, 2024

     Referred To: Senate Finance

     It is enacted by the General Assembly as follows:

     SECTION 1. As is authorized by the town council by resolution dated May 9, 2024 and as

has been approved or will be considered for approval by the electors of the town at the financial

town meeting held on June 4, 2024, as may be adjourned, and § 45-12-2, the town of Scituate is

hereby empowered, in addition to authority previously granted, to issue its general obligation bonds

and notes to an amount not exceeding three million five hundred thousand dollars ($3,500,000) at

one time or from time to time under its corporate name and seal or a facsimile of such seal to

finance capital projects at the Scituate schools, including making all necessary contracts and

agreements to issue said bonds and/or notes through the Rhode Island health and educational

building corporation.

     SECTION 2. In accordance with § 16-7-44, the principal and interest on such bonds shall

be eligible for state housing aid reimbursement.

     SECTION 3. This act shall constitute an enabling act of the general assembly that is

required pursuant to § 16-7-44 and shall take effect upon passage. Any bonds, notes of other

evidences of indebtedness issued under this act for school projects shall not be eligible for state aid

reimbursement pursuant to § 16-7-44 unless the school projects described herein shall have been

approved by the Rhode Island department of education.

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EXPLANATION

OF

A N   A C T

IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44

APPROVING THE ISSUANCE OF $3,500,000 BONDS BY THE TOWN OF SCITUATE TO

FINANCE CAPITAL PROJECTS AT THE SCITUATE SCHOOLS

***

     This act would constitute an enabling act of the general assembly that is required pursuant

to § 16-7-44. Any bonds, notes or other evidences of indebtedness issued under this act for school

projects would not be eligible for state aid reimbursement pursuant to § 16-7-44 unless the school

projects financed hereunder have been approved by the Rhode Island department of education

("RIDE").

     This act would take effect upon passage. This financing has been approved by the town

council by resolution adopted on May 9, 2024, and has been approved by or is subject to the

approval of the electors of the town at the financial town meeting held or to be held on June 4,

2024, as may be adjourned.

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