2014 -- S 3119 | |
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LC006003 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2014 | |
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A N A C T | |
IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44 | |
APPROVING THE ISSUANCE OF NOT TO EXCEED $10,000,000 LEASE REVENUE | |
BONDS OR OTHER EVIDENCES OF INDEBTEDNESS BY THE PROVIDENCE PUBLIC | |
BUILDINGS AUTHORITY TO PROVIDE FUNDING FOR "WARM, SAFE AND DRY" | |
HEALTH AND SAFETY PROJECTS IN PROVIDENCE PUBLIC SCHOOLS | |
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Introduced By: Senators Goodwin, and Ruggerio | |
Date Introduced: June 18, 2014 | |
Referred To: Senate Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. In accordance with Title 45, Chapter 50 of the general laws, the Providence |
2 | Public Buildings Authority is hereby empowered to issue lease revenue bonds or other evidences |
3 | of indebtedness up to an amount not exceeding ten million dollars ($10,000,000) from time to |
4 | time under its corporate name and seal, to provide funding for "Warm, Safe and Dry" health and |
5 | safety projects in Providence public schools, consisting of renovation, rehabilitation, repair, |
6 | replacement, improvement, furnishing and equipping of schools and school facilities, including, |
7 | but not limited to, remediation of fire code violations, repair, replacement, improvement and |
8 | installation of roofs, heating, ventilation, air conditioning and fire alarm systems, including |
9 | design and feasibility, engineering or other studies which may be necessary in connection |
10 | therewith and other acts incidental thereto. |
11 | SECTION 2. In accordance with § 16-7-44 of the general laws, the principal of, and |
12 | interest on such bonds or evidences of indebtedness shall be eligible for state housing aid |
13 | reimbursement. |
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1 | SECTION 3. This act serves as the enabling act required by Rhode Island General Laws |
2 | § 16-7-44 and shall take effect upon passage provided that no lease revenue bonds or other |
3 | evidences of indebtedness shall be issued unless and until the Rhode Island Department of |
4 | Education ("RIDE") has granted approval for the project. |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44 | |
APPROVING THE ISSUANCE OF NOT TO EXCEED $10,000,000 LEASE REVENUE | |
BONDS OR OTHER EVIDENCES OF INDEBTEDNESS BY THE PROVIDENCE PUBLIC | |
BUILDINGS AUTHORITY TO PROVIDE FUNDING FOR "WARM, SAFE AND DRY" | |
HEALTH AND SAFETY PROJECTS IN PROVIDENCE PUBLIC SCHOOLS | |
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1 | This act would serve as the enabling act required by Rhode Island General Laws § 16-7- |
2 | 44 in order for the bonds or evidences of indebtedness issued by the Providence Public Buildings |
3 | Authority in support of Providence school housing projects to be eligible for state housing aid |
4 | reimbursement. |
5 | This act would take effect upon passage provided that no lease revenue bonds or other |
6 | evidences of indebtedness would be issued unless and until the Rhode Island Department of |
7 | Education ("RIDE") has granted approval for the project. |
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