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art.006/1

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     ARTICLE 6

     SECTION 1. This article shall serve as joint resolution required pursuant to Rhode Island

General Law § 35-18-1, et seq.

     SECTION 2. University of Rhode Island – Memorial Union – Auxiliary Enterprise

     WHEREAS, the Council on Postsecondary Education and the University have a long-

standing commitment to the overall development of their students; and

     WHEREAS, the University believes that the Memorial Union celebrates life at URI and

acts as the nexus for campus community, student engagement, and leadership. It is an intersection

connecting the academic core of campus and the campus’s socially active residential community.

The student union at the University is an integral part of the educational ecosystem that shapes the

student experience; and

     WHEREAS, the Council on Postsecondary Education and the University of Rhode Island

are proposing a project which involves the renovation and expansion of the Memorial Union to meet

the ongoing and growing needs of their students; and

     WHEREAS, the University engaged a qualified architectural firm, which has completed

an advanced planning study for this renovation; and

     WHEREAS, the Rhode Island Public Corporation Debt Management Act requires the

General Assembly to provide its consent to the issuance or incurring by the State of Rhode Island

and other public agencies of certain obligations including financing guarantees or other agreements;

and

     WHEREAS, the design and construction associated with this work of an Auxiliary

Enterprise building will be financed through the Rhode Island Health and Educational Building

Corporation (RIHEBC) revenue bonds, with an expected term of thirty (30) years; and

     WHEREAS, the total project costs associated with completion of the project through the

proposed financing method is fifty-one million five hundred thousand dollars ($51,500,000),

including cost of issuance. Debt service payments would be supported by revenues derived from

student fees and retail lease payments associated with the respective Auxiliary Enterprises of the

University of Rhode Island occupying said facility. Total debt service on the bonds is not expected

to exceed one hundred twelve million three hundred thousand dollars ($112,300,000) in the

aggregate based on an average interest rate of six (6%) percent; now, therefore be it

     RESOLVED, that this General Assembly hereby approves financing in an amount not to

exceed fifty-one million five hundred thousand dollars ($51,500,000) for the Memorial Union

project for the auxiliary enterprise building on the University of Rhode Island campus; and be it

further

     RESOLVED, that this Joint Resolution shall take effect upon passage by this General

Assembly.

     SECTION 3. University of Rhode Island – Fraternity Circle Master Plan Implementation

     WHEREAS, the Rhode Island Council on Postsecondary Education and the University of

Rhode Island are proposing a project which involves improvements to the sector of the Kingston

Campus devoted to fraternity and sorority houses, referred to as Fraternity Circle, on the Kingston

Campus; and

     WHEREAS, the University of Rhode Island is underway with a utility and infrastructure

project to replace, improve, and reorganize aged, incrementally developed utility and paved

infrastructure in Fraternity Circle, referred to in the University’s Capital Improvement Plan as

“Fraternity Circle Improvements” project, including improvements to water, wastewater, electrical,

telecommunications, natural gas connections, and storm water management systems, as well as

roadways, walkways, and parking lots as a first phase of improvements reflected in a “master plan”

for this unique neighborhood of on-campus residences serving organizations of students; and

     WHEREAS, the second phase of the overall improvements to Fraternity Circle, referred

to on the University’s Capital Improvement Plan as the “Fraternity Circle Master Plan

Implementation” project is needed to complete this district of campus; and

     WHEREAS, the design and execution of this project will improve student life and the

campus's environmental impact; and

     WHEREAS, these timely project commitments serve the objectives of both the University

and the local community; and

     WHEREAS, the Rhode Island Public Corporation Debt Management Act requires the

General Assembly to provide its consent to the issuance or incurring by the State of Rhode Island

and other public agencies of certain obligations including financing guarantees or other agreements;

and

     WHEREAS, the design and construction will be financed through Rhode Island Health and

Educational Building Corporation revenue bonds, with an expected term of twenty (20) years; and

     WHEREAS, the project costs associated with completion of the project and proposed

financing method is two million one hundred thousand dollars ($2,100,000), including cost of

issuance. Debt Service payments would be supported by the University's unrestricted general

fund. Total debt service on the bonds is not expected to exceed three million seven hundred

thousand dollars ($3,700,000) in the aggregate based on an average interest rate of six percent

(6%); now, therefore be it

     RESOLVED, that this General Assembly hereby approves financing in an amount not to

exceed two million one hundred thousand dollars ($2,100,000) for the Fraternity Circle Master Plan

Implementation project at the University of Rhode Island; and be it further

     RESOLVED, that, this Joint Resolution shall take effect upon passage by this General

Assembly.

     SECTION 4. University of Rhode Island – Combined Health & Counseling Center –

Auxiliary Enterprise

     WHEREAS, the Council on Postsecondary Education and the University have a long-

standing commitment to the health and wellness of their students; and

     WHEREAS, the University has a desire to create a one-stop center to address the physical,

emotional, and mental health of its students; and

     WHEREAS, the Council on Postsecondary Education and the University of Rhode Island

are proposing a project which involves the construction of a new Combined Health & Counseling

Center to meet the ongoing and growing health needs of their students; and

     WHEREAS, the University engaged a qualified architectural firm, which has completed

an advanced planning study for this new building; and

     WHEREAS, the Rhode Island Public Corporation Debt Management Act requires the

General Assembly to provide its consent to the issuance or incurring by the State of Rhode Island

and other public agencies of certain obligations including financing guarantees or other agreements;

and

     WHEREAS, the design and construction associated with this work of an Auxiliary

Enterprise building will be financed through the Rhode Island Health and Educational Building

Corporation (RIHEBC) revenue bonds, with an expected term of thirty (30) years; and

     WHEREAS, the total project costs associated with completion of the project through the

proposed financing method is twenty-six million nine hundred thousand dollars ($26,900,000),

including cost of issuance. Debt service payments would be supported by revenues derived from

student fees associated with the respective Auxiliary Enterprises of the University of Rhode Island

occupying said facility. Total debt service on the bonds is not expected to exceed fifty-eight million

seven hundred thousand dollars ($58,700,000) in the aggregate based on an average interest rate of

six (6%) percent; now, therefore be it

     RESOLVED, that this General Assembly hereby approves financing in an amount not to

exceed twenty-six million nine hundred thousand dollars ($26,900,000) for the Combined

Health & Counseling Center project for the auxiliary enterprise building on the University of Rhode

Island campus; and be it further

     RESOLVED, that, this Joint Resolution shall take effect upon passage by this General

Assembly.

     SECTION 5. Department of Corrections – High Security Center Renovation

     WHEREAS, the High Security Center was opened in 1981 to manage the state’s most

dangerous offenders as well as those requiring protection from inmate general protection and has a

residential treatment unit to treat inmates with mental health crisis or more intensive mental health

issues; and

     WHEREAS, the High Security Center’s capacity is listed at 138 inmates within 6 housing

modules, but its current census is 86; and

     WHEREAS, the High Security Center per inmate cost in the facility is $240,000, which

ranks among the highest in the nation due to poor physical design, specifically the small housing

modules and the number of staff required to supervise the inmates; and

     WHEREAS, the poor physical designed housing structure results in a 0.85 inmate to 1 staff

ratio; and

     WHEREAS, due to the age and poorly designed housing units, the High Security Center

requires significant infrastructure upgrades including new housing units featuring operational

improvements. The funding requested will be utilized to renovate the existing housing units, with

potential expansion to achieve operational efficiencies which will improve programming space,

alter facility design to reduce correctional officer – inmate ratios, provide energy/maintenance

efficiencies and increase the safety of correctional officers; and

     WHEREAS, the capital costs associated with completion of the project are estimated to be

sixty million dollars ($60,000,000). This includes $15,000,000 from the Rhode Island Capital Plan

Fund for the renovation of the High Security Center and $45,000,000 from the issuance of

Certificates of Participation. The total issuance would be $45,000,000, with lease payments over

fifteen (15) years on the $45,000,000 projected to be $66,156,044 assuming an average coupon of

five percent (5.0%). The lease payments would be financed within the Department of

Administration from general revenue appropriations, therefore be it

     RESOLVED, that a renovation of the High Security Center as part of the Department of

Corrections is critical to provide operations that are efficient, effective and safe for Correctional

staff; and be it further

     RESOLVED, that this General Assembly hereby approves the issuance of certificate of

participation in an amount not to exceed $45,000,000 for the renovation of High Security, part of

the Department of Corrections, and be it further

     RESOLVED, that, this Joint Resolution shall take effect upon passage by this General

Assembly.

     SECTION 6. This Article shall take effect upon passage.