2012 -- H 7162

=======

LC00652

=======

STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2012

____________

A N A C T

AUTHORIZING THE CITY OF PAWTUCKET TO ISSUE TAX ANTICIPATION NOTES

PAYABLE IN FISCAL YEAR 2013

     Introduced By: Representatives E Coderre, O`Neill, San Bento, Johnston, and Messier

     Date Introduced: January 18, 2012

     Referred To: House Finance

It is enacted by the General Assembly as follows:

1-1

     SECTION 1. Notwithstanding the provisions of Article V, Chapter 2 of the Pawtucket

1-2

Home Rule Charter, the city of Pawtucket is hereby empowered to issue tax anticipation notes

1-3

pursuant to Rhode Island General Laws Section 45-12-4 in anticipation of taxes to be received in

1-4

the fiscal year 2011 – 2012, which notes shall be made payable not later than December 31, 2012.

1-5

     SECTION 2. To the extent of any inconsistency between this act and any private, public,

1-6

general, or any other law, and the city charter and city ordinances, this act shall prevail. This act

1-7

shall take effect upon passage in conformity with the reserved powers of the General Assembly

1-8

pursuant to Article XIII, Section 5 of the Constitution of the State of Rhode Island and

1-9

Providence Plantations.

=======

LC00652

=======

EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N A C T

AUTHORIZING THE CITY OF PAWTUCKET TO ISSUE TAX ANTICIPATION NOTES

PAYABLE IN FISCAL YEAR 2013

***

2-1

     This act would authorize the city of Pawtucket to issue tax anticipation notes pursuant to

2-2

Chapter 45-12-4 of the Rhode Island General Laws which would be made payable not later than

2-3

December 31, 2012, notwithstanding Article 5, Chapter 2 of Pawtucket’s Home Rule Charter,

2-4

which would otherwise require that such notes be repaid not later than June 30, 2012.

2-5

     This act would take effect upon passage.

=======

LC00652

=======