2025 -- H 6099 | |
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LC002445 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2025 | |
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A N A C T | |
IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44 | |
APPROVING THE ISSUANCE OF $10,400,000 BONDS BY THE TOWN OF NEW | |
SHOREHAM TO FINANCE ADDITIONS, RENOVATIONS, IMPROVEMENTS, | |
ALTERATIONS AND REPAIRS TO SCHOOLS AND SCHOOL FACILITIES IN THE TOWN | |
INCLUDING, BUT NOT LIMITED TO, BONDS AND NOTES ISSUED PURSUANT TO | |
FINANCING AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL | |
BUILDING CORPORATION | |
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Introduced By: Representative Tina L. Spears | |
Date Introduced: March 14, 2025 | |
Referred To: House Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. As previously authorized by a vote of the electors of the town at the financial |
2 | town meeting held on May 2, 2022 and Rhode Island General Laws § 45-12-2, the Town of New |
3 | Shoreham was empowered to issue bonds to an amount not exceeding ten million four hundred |
4 | thousand dollars ($10,400,000), from time to time to finance additions, renovations, improvements, |
5 | alterations and repairs to schools and school facilities in the Town. |
6 | SECTION 2. In accordance with section 16-7-44 of the general laws, the principal and |
7 | interest on such bonds shall be eligible for state housing aid reimbursement. |
8 | SECTION 3. This act serves as the enabling act required by Rhode Island General Laws § |
9 | 16-7-44 and shall take effect upon passage. |
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LC002445 | |
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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 $10,400,000 BONDS BY THE TOWN OF NEW | |
SHOREHAM TO FINANCE ADDITIONS, RENOVATIONS, IMPROVEMENTS, | |
ALTERATIONS AND REPAIRS TO SCHOOLS AND SCHOOL FACILITIES IN THE TOWN | |
INCLUDING, BUT NOT LIMITED TO, BONDS AND NOTES ISSUED PURSUANT TO | |
FINANCING AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL | |
BUILDING CORPORATION | |
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1 | This act would serve as the enabling act required by Rhode Island General Laws§ 16-7-44 |
2 | in order for the principal and interest on bonds issued in support of school housing projects to be |
3 | eligible for state housing aid reimbursement. |
4 | This act serves as the enabling act required by Rhode Island General Laws § 16-7-44 and |
5 | would take effect upon passage |
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LC002445 | |
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