| LA 033 |
| 2023 -- H 6335 Enacted 06/12/2023 |
| A N A C T |
| IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44 APPROVING THE ISSUANCE OF $1,000,000 BONDS BY THE TOWN OF SCITUATE TO FINANCE A WATER PROJECT AT THE SCITUATE HIGH SCHOOL/MIDDLE SCHOOL INCLUDING, BUT NOT LIMITED TO, BONDS AND NOTES ISSUED PURSUANT TO FINANCING AGREEMENTS WITH THE RHODE ISLAND INFRASTRUCTURE BANK |
Introduced By: Representative Robert J. Quattrocchi |
| Date Introduced: April 26, 2023 |
| It is enacted by the General Assembly as follows: |
| SECTION 1. As previously authorized by the electors of the town at the financial town |
| meeting held on April 4, 2023 and by the town council by resolution adopted March 9, 2023 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 one million dollars |
| ($1,000,000) at one time or from time to time under its corporate name and seal or a facsimile of |
| such seal to finance a water project at the Scituate high school/middle school, including making all |
| necessary contracts and agreements to issue said bonds and/or notes through the Rhode Island |
| infrastructure bank, but nothing herein shall require that the town issue such bonds and/or notes |
| through the Rhode Island infrastructure bank. |
| SECTION 2. In accordance with § 16-7-44, the principal 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 or 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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| LC002877 |
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