2012 -- S 2096

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LC00653

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STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2012

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A N A C T

AUTHORIZING THE CITY OF PAWTUCKET TO ISSUE TAX ANTICIPATION NOTES

PAYABLE IN FISCAL YEAR 2013

     Introduced By: Senators DaPonte, Crowley, Nesselbush, and Doyle

     Date Introduced: January 18, 2012

     Referred To: Senate Finance

It is enacted by the General Assembly as follows:

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

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

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

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

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

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

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

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

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Providence Plantations.

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LC00653

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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

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

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

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

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

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     This act would take effect upon passage.

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LC00653

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