2014 -- H 7036 | |
======== | |
LC003074 | |
======== | |
STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2014 | |
____________ | |
A N A C T | |
IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44, | |
APPROVING THE ISSUANCE OF $6,400,000 BONDS BY THE TOWN OF WEST | |
WARWICK TO FINANCE HEALTH, SAFETY AND FIRE-CODE RELATED EMERGENCY | |
REPAIRS, ALTERATIONS, RENOVATIONS, IMPROVEMENTS AND EQUIPPING OF | |
SCHOOL FACILITIES IN THE TOWN AND ALL ATTENDANT EXPENSES AND | |
APPROVING THE ISSUANCE OF BONDS AND NOTES PURSUANT TO FINANCING | |
AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING | |
CORPORATION | |
| |
Introduced By: Representatives Serpa, Nunes, and Morgan | |
Date Introduced: January 09, 2014 | |
Referred To: House Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. The Town of West Warwick is hereby authorized and empowered to issue |
2 | bonds to an amount not exceeding six million four hundred thousand dollars ($6,400,000), from |
3 | time to time under its corporate name and seal, pursuant to an ordinance to be adopted by the |
4 | Town in accordance with the West Warwick Home Rule Charter and Rhode Island General Laws |
5 | section 45-12-2. |
6 | SECTION 2. In accordance with section 16-7-44 of the general laws, the principal of and |
7 | interest on such bonds shall be eligible for state housing aid reimbursement. |
8 | SECTION 3. Notwithstanding section 16-7-41.1 of the general laws, this project, which |
9 | was approved by the Commissioner of Elementary and Secondary Education on or about March |
10 | 23, 2007, shall be and remain eligible for school housing aid notwithstanding any period of |
11 | inactivity in carrying out the project. |
12 | SECTION 4. This act serves as the enabling act required by Rhode Island General Laws |
13 | section 16-7-44 and shall take effect upon passage. |
======== | |
LC003074 | |
======== | |
| |
EXPLANATION | |
OF | |
A N A C T | |
IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44, | |
APPROVING THE ISSUANCE OF $6,400,000 BONDS BY THE TOWN OF WEST | |
WARWICK TO FINANCE HEALTH, SAFETY AND FIRE-CODE RELATED EMERGENCY | |
REPAIRS, ALTERATIONS, RENOVATIONS, IMPROVEMENTS AND EQUIPPING OF | |
SCHOOL FACILITIES IN THE TOWN AND ALL ATTENDANT EXPENSES AND | |
APPROVING THE ISSUANCE OF BONDS AND NOTES PURSUANT TO FINANCING | |
AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING | |
CORPORATION | |
*** | |
1 | This act would serve as the enabling act required by Rhode Island General Laws section |
2 | 16-7-44 in order for the principal of, and interest on bonds issued by the Town of West Warwick |
3 | in support of school housing projects to be eligible for state housing aid reimbursement. |
4 | This act would take effect upon passage. |
======== | |
LC003074 | |
======== | |
| LC003074 - Page 2 of 2 |