======= | ||
art.002/14/002/13/002/12/002/11/002/10/002/9/002/8/002/7/002/6/002/5/002/4/002/3/002/2/005/ | ||
1 | ||
======= | ||
1 | ARTICLE 2 | |
2 | RELATING TO CAPITAL DEVELOPMENT PROGRAM | |
3 | SECTION 1. Proposition to be submitted to the people. -- At a special election to be | |
4 | held on the Tuesday next after the first Monday in March 2021, there shall be submitted to the | |
5 | people ("People") of the State of Rhode Island ("State"), for their approval or rejection, the | |
6 | following proposition: | |
7 | "Shall the action of the general assembly, by an act passed at the January 2020 session, | |
8 | authorizing the issuance of bonds, refunding bonds, and temporary notes of the State of Rhode | |
9 | Island for the capital projects and in the amount with respect to each such project listed below be | |
10 | approved, and the issuance of bonds, refunding bonds, and temporary notes authorized in | |
11 | accordance with the provisions of said act?" | |
12 | Project | |
13 | (1) Higher Education Facilities $107,300,000 | |
14 | Approval of this question will allow the State of Rhode Island to issue general obligation | |
15 | bonds, refunding bonds, and/or temporary notes in an amount not to exceed one hundred seven | |
16 | million three hundred thousand dollars ($107,300,000) for capital improvements to higher | |
17 | education facilities, to be allocated as follows: | |
18 | (a) University of Rhode Island Fine Arts Center $57,300,000 | |
19 | Provides fifty-seven million three hundred thousand dollars ($57,300,000) to fund repairs | |
20 | and construct a new facility on the University of Rhode Island's Kingston campus in support of the | |
21 | educational needs for the musical, theatrical, visual, and graphic arts disciplines. | |
22 | (b) Rhode Island College Clarke Science Building Renovation $38,000,000 | |
23 | Provides thirty-eight million dollars ($38,000,000) to reconstruct Clarke Science Building | |
24 | on the campus of Rhode Island College. This project will improve the science and technology | |
25 | laboratories and facilities that support high-demand degree programs critical to the college's | |
26 | mission of statewide workforce development. | |
27 | (c) Community College of Rhode Island Renovation and Modernization $12,000,000 | |
28 | Provides twelve million dollars ($12,000,000) to fund restoration and enhancement of | |
29 | academic and student support spaces and other infrastructure on the four campuses of the | |
30 | Community College of Rhode Island (CCRI). Funds will go towards modernizing and renovating | |
| ||
1 | facilities, addressing repairs, improving safety and energy efficiency, and replacing outdated | |
2 | technology and equipment used for teaching and learning. | |
3 | (2) Beach, Clean Water and Green Bond $74,000,000 | |
4 | Approval of this question will allow the State of Rhode Island to issue general obligation | |
5 | bonds, refunding bonds, and/or temporary notes in an amount not to exceed seventy-four million | |
6 | dollars ($74,000,000) for environmental and recreational purposes, to be allocated as follows: | |
7 | (a) State Beaches, Parks, and Campgrounds $33,000,000 | |
8 | Provides thirty-three million dollars ($33,000,000) for major capital improvements to state | |
9 | beaches, parks, and campgrounds, including the design, development, expansion, and renovation | |
10 | of new and existing facilities. Improvements may include a new facility at Goddard Park beach; | |
11 | recreational facility improvements, upgraded facilities including new bathrooms at Roger Wheeler | |
12 | State beach, Scarborough State beach, Misquamicut State beach, and Brenton Point; and | |
13 | campground improvements including new bathrooms facilities and utility upgrades. | |
14 | (b) I-195 Park $4,000,000 | |
15 | Provides four million dollars ($4,000,000) for I-195 Park infrastructure development. | |
16 | (c) Local Recreation Projects $4,000,000 | |
17 | Provides four million dollars ($4,000,000) for up to eighty percent (80%) matching grants | |
18 | for municipalities to acquire, develop, or rehabilitate local recreational facilities to meet the | |
19 | growing needs for active outdoor recreational facilities. | |
20 | (d) Natural and Working Lands $3,000,000 | |
21 | Provides three million dollars ($3,000,000) to protect working forest and farm lands | |
22 | throughout Rhode Island including through the purchase of forest conservation easements, the | |
23 | purchase of development rights by the Agricultural Lands Preservation Commission, and the State | |
24 | Farmland Access Program. | |
25 | (e) Clean Water and Drinking Water $15,000,000 | |
26 | Provides fifteen million dollars ($15,000,000) for clean water and drinking water | |
27 | infrastructure improvements. Clean water projects include wastewater collection and treatment | |
28 | upgrades, stormwater resilience improvements, combined sewer overflow initiatives, water | |
29 | pollution control, and other water quality protection activities. Drinking water projects include | |
30 | construction of and improvements to water supply, treatment, and distribution infrastructure. | |
31 | (f) Municipal Resiliency $7,000,000 | |
32 | Provides seven million dollars ($7,000,000) for up to seventy-five percent (75%) matching | |
33 | grants to municipalities for restoring and/or improving resiliency of infrastructure, vulnerable | |
34 | coastal habitats, and restoring rivers and stream floodplains. These funds are expected to leverage | |
|
| |
1 | significant matching funds to support local programs to improve community resiliency and public | |
2 | safety in the face of increased flooding, major storm events, and environmental degradation. | |
3 | (g) Providence River Dredging $6,000,000 | |
4 | Provides six million dollars ($6,000,000) for additional dredging analysis and the dredging | |
5 | of the Downtown Providence Rivers. | |
6 | (h) Woonasquatucket River Watershed $2,000,000 | |
7 | Provides for two million dollars ($2,000,000) in grants to the Woonasquatucket River | |
8 | Watershed Council to develop, improve, or rehabilitate public recreational projects and | |
9 | infrastructure along the Woonasquatucket River Greenway. | |
10 | (3) Housing and Community Opportunity $65,000,000 | |
11 | Approval of this question will allow the State of Rhode Island to issue general obligation | |
12 | bonds, refunding bonds, and/or temporary notes in an amount not to exceed sixty-five million | |
13 | dollars ($65,000,000) to increase the availability of affordable housing and support community | |
14 | revitalization through the redevelopment of existing structures, new construction, and property | |
15 | acquisition. | |
16 | (4) Transportation Infrastructure State Match $71,700,000 | |
17 | Approval of this question will allow the State of Rhode Island to issue general obligation | |
18 | bonds, refunding bonds, and/or temporary notes in an amount not to exceed seventy-one million | |
19 | seven hundred thousand dollars ($71,700,000) to match federal funds and provide direct funding | |
20 | for needed and planned improvements to the state's transportation infrastructure, including ports, | |
21 | highways, roads, and bridges. This investment will create jobs by continuing needed construction | |
22 | throughout the state. | |
23 | (5) Early Childhood Care and Education Capital Fund $15,000,000 | |
24 | Approval of this question will allow the State of Rhode Island to issue general obligation | |
25 | bonds, refunding bonds, and/or temporary notes in an amount not to exceed fifteen million dollars | |
26 | ($15,000,000) for physical improvements to and development of licensed early childhood care and | |
27 | education facilities through an Early Childhood Care and Education Capital Fund. Quality early | |
28 | childhood education and child care is necessary for a robust economy in support of parents in the | |
29 | workplace and as foundation to the academic success of Rhode Island's children. In 2019, only | |
30 | twenty percent (20%) of the physical space licensed for the State's four-year-old population meets | |
31 | the State definition of quality, and there are eighteen (18) cities and towns that do not have any | |
32 | infant/toddler care options. These funds will support greater access to safe, high-quality early | |
33 | learning opportunities for Rhode Island children. | |
34 | (6) Cultural Arts and the Economy Grant Program and State Preservation | |
|
| |
1 | Grants Program $7,000,000 | |
2 | Approval of this question will allow the State of Rhode Island to issue general obligation | |
3 | bonds, refunding bonds, and/or temporary notes in an amount not to exceed seven million dollars | |
4 | ($7,000,000) to fund the Cultural Arts and the Economy Grant Program and the State Preservation | |
5 | Grants Program, to be allocated as follows: | |
6 | (a) Cultural Arts and the Economy Grant Program $6,000,000 | |
7 | Provides six million dollars ($6,000,000) in funding for 1:1 matching grants to continue | |
8 | the Cultural Arts and the Economy Grant Program administered by the Rhode Island State Council | |
9 | on the Arts (RISCA) for capital improvement, preservation and renovation projects for public and | |
10 | nonprofit artistic, performance centers, museums and cultural art centers located throughout the | |
11 | State of Rhode Island. | |
12 | 1. Trinity Repertory Company $2,500,000 | |
13 | For the Lederer Theater and the Pell Chafee Performance Center, both in Providence, used | |
14 | for performance facilities, educational instruction, production and administration. | |
15 | 2. Rhode Island Philharmonic $1,500,000 | |
16 | For the Carter Center for Music Education and Performance in East Providence, used for | |
17 | music teaching, learning, performance and administration. | |
18 | 3. Other funds to be allocated by RISCA $2,000,000 | |
19 | For 1:1 matching grants to be allocated by RISCA to 501(c)(3) nonprofit cultural | |
20 | organizations which lease or own their performance space, and for RISCA expenses in | |
21 | administering the program. In awarding such grants RISCA shall consider financial need, the | |
22 | availability or actual expenditure of matching funds for the projects, available gifts or grants for | |
23 | projects, the amount of square footage to be improved, the geographical location and characteristics | |
24 | of audiences benefitted. | |
25 | (b) State Preservation Grants Program $1,000,000 | |
26 | Provides one million dollars ($1,000,000) in funding to cities, towns and nonprofit | |
27 | organizations to preserve, renovate and improve public and nonprofit historic sites, museums, and | |
28 | cultural art centers located in historic structures in the State of Rhode Island to be administered by | |
29 | the Rhode Island Historical Preservation and Heritage Commission. | |
30 | (7) Industrial Facilities Infrastructure $60,000,000 | |
31 | Approval of this question will allow the State of Rhode Island to issue general obligation | |
32 | bonds, refunding bonds, and/or temporary notes in an amount not to exceed sixty million dollars | |
33 | ($60,000,000) to fund industrial facilities infrastructure improvements, to be allocated as follows: | |
34 | (a) Industrial Site Development $40,000,000 | |
|
| |
1 | Provides forty million dollars ($40,000,000) for the Quonset Development Corporation | |
2 | (QDC) to competitively fund, acquire, assemble, prepare, expand and/or develop industrial sites | |
3 | and facilities statewide for purposes related to manufacturing, assembly, distribution, production, | |
4 | processing, offshore wind, and other job-producing activities. QDC shall negotiate and execute a | |
5 | Rhode Island benefits agreement with projects in which QDC makes a direct investment. QDC, as | |
6 | part of its due diligence, shall also administer small grants for pre-development purposes. | |
7 | (b) Port of Davisville Infrastructure at Quonset $20,000,000 | |
8 | Provides twenty million dollars ($20,000,000) for infrastructure projects that will support | |
9 | the continued growth and modernization at the Port of Davisville. This investment will finance the | |
10 | Port master plan, including construction of a new Pier at Terminal Five, the rehabilitation of Pier | |
11 | One and dredging. These projects will position Davisville to accommodate offshore wind project | |
12 | cargo and logistics staging while continuing to support the Port's existing businesses. | |
13 | SECTION 2. Ballot labels and applicability of general election laws. -- The Secretary of | |
14 | State shall prepare and deliver to the State Board of Elections ballot labels for each of the projects | |
15 | provided for in Section 1 hereof with the designations "approve" or "reject" provided next to the | |
16 | description of each such project to enable voters to approve or reject each such proposition. The | |
17 | general election laws, so far as consistent herewith, shall apply to this proposition. | |
18 | SECTION 3. Approval of projects by people. -- If a majority of the People voting on the | |
19 | proposition in Section 1 hereof shall vote to approve any project stated therein, said project shall | |
20 | be deemed to be approved by the People. The authority to issue bonds, refunding bonds and/or | |
21 | temporary notes of the State shall be limited to the aggregate amount for all such projects as set | |
22 | forth in the proposition, which has been approved by the People. | |
23 | SECTION 4. Bonds for capital development program. -- The General Treasurer is hereby | |
24 | authorized and empowered, with the approval of the Governor, and in accordance with the | |
25 | provisions of this Act to issue capital development bonds in serial form, in the name of and on | |
26 | behalf of the State of Rhode Island, in amounts as may be specified by the Governor in an aggregate | |
27 | principal amount not to exceed the total amount for all projects approved by the People and | |
28 | designated as "capital development loan of 2020 bonds." Provided, however, that the aggregate | |
29 | principal amount of such capital development bonds and of any temporary notes outstanding at any | |
30 | one time issued in anticipation thereof pursuant to Section 7 hereof shall not exceed the total amount | |
31 | for all such projects approved by the People. All provisions in this Act relating to "bonds" shall | |
32 | also be deemed to apply to "refunding bonds." | |
33 | Capital development bonds issued under this Act shall be in denominations of one thousand | |
34 | dollars ($1,000) each, or multiples thereof, and shall be payable in any coin or currency of the | |
|
| |
1 | United States which at the time of payment shall be legal tender for public and private debts. These | |
2 | capital development bonds shall bear such date or dates, mature at specified time or times, but not | |
3 | mature beyond the end of the twentieth (20th) State fiscal year following the fiscal year in which | |
4 | they are issued; bear interest payable semi-annually at a specified rate or different or varying rates: | |
5 | be payable at designated time or times at specified place or places; be subject to express terms of | |
6 | redemption or recall, with or without premium; be in a form, with or without interest coupons | |
7 | attached; carry such registration, conversion, reconversion, transfer, debt retirement, acceleration | |
8 | and other provisions as may be fixed by the General Treasurer, with the approval by the Governor, | |
9 | upon each issue of such capital development bonds at the time of each issue. Whenever the | |
10 | Governor shall approve the issuance of such capital development bonds, the Governor's approval | |
11 | shall be certified to the Secretary of State; the bonds shall be signed by the General Treasurer and | |
12 | countersigned by Secretary of State and shall bear the seal of the State. The signature approval of | |
13 | the Governor shall be endorsed on each bond. | |
14 | SECTION 5. Refunding bonds for 2020 capital development program. -- The General | |
15 | Treasurer is hereby authorized and empowered, with the approval of the Governor, and in | |
16 | accordance with the provisions of this Act, to issue bonds to refund the 2020 capital development | |
17 | program bonds, in the name of and on behalf of the state, in amounts as may be specified by the | |
18 | Governor in an aggregate principal amount not to exceed the total amount approved by the People, | |
19 | to be designated as "capital development program loan of 2020 refunding bonds" (hereinafter | |
20 | "Refunding Bonds"). | |
21 | The General Treasurer with the approval of the Governor shall fix the terms and form of | |
22 | any Refunding Bonds issued under this Act in the same manner as the capital development bonds | |
23 | issued under this Act, except that the Refunding Bonds may not mature more than twenty (20) years | |
24 | from the date of original issue of the capital development bonds being refunded. | |
25 | The proceeds of the Refunding Bonds, exclusive of any premium and accrual interest and | |
26 | net the underwriters' cost, and cost of bond issuance, shall, upon their receipt, be paid by the General | |
27 | Treasurer immediately to the paying agent for the capital development bonds which are to be called | |
28 | and prepaid. The paying agent shall hold the Refunding Bond proceeds in trust until they are applied | |
29 | to prepay the capital development bonds. While such proceeds are held in trust, the proceeds may | |
30 | be invested for the benefit of the State in obligations of the United States of America or the State | |
31 | of Rhode Island. | |
32 | If the General Treasurer shall deposit with the paying agent for the capital development | |
33 | bonds the proceeds of the Refunding Bonds, or proceeds from other sources, amounts that, when | |
34 | invested in obligations of the United States or the State of Rhode Island, are sufficient to pay all | |
|
| |
1 | principal, interest, and premium, if any, on the capital development bonds until these bonds are | |
2 | called for prepayment, then such capital development bonds shall not be considered debts of the | |
3 | State of Rhode Island for any purpose starting from the date of deposit of such moneys with the | |
4 | paying agent. The Refunding Bonds shall continue to be a debt of the State until paid. | |
5 | The term "bond" shall include "note," and the term "refunding bonds" shall include | |
6 | "refunding notes" when used in this Act. | |
7 | SECTION 6. Proceeds of capital development program. -- The General Treasurer is | |
8 | directed to deposit the proceeds from the sale of capital development bonds issued under this Act, | |
9 | exclusive of premiums and accrued interest and net the underwriters' cost, and cost of bond | |
10 | issuance, in one or more of the depositories in which the funds of the State may be lawfully kept in | |
11 | special accounts (hereinafter cumulatively referred to as "such capital development bond fund") | |
12 | appropriately designated for each of the projects set forth in Section 1 hereof which shall have been | |
13 | approved by the People to be used for the purpose of paying the cost of all such projects so | |
14 | approved. | |
15 | All monies in the capital development bond fund shall be expended for the purposes | |
16 | specified in the proposition provided for in Section 1 hereof under the direction and supervision of | |
17 | the Director of Administration (hereinafter referred to as "Director"). The Director or his or her | |
18 | designee shall be vested with all power and authority necessary or incidental to the purposes of this | |
19 | Act, including but not limited to, the following authority: (a) to acquire land or other real property | |
20 | or any interest, estate or right therein as may be necessary or advantageous to accomplish the | |
21 | purposes of this Act; (b) to direct payment for the preparation of any reports, plans and | |
22 | specifications, and relocation expenses and other costs such as for furnishings, equipment | |
23 | designing, inspecting and engineering, required in connection with the implementation of any | |
24 | projects set forth in Section 1 hereof; (c) to direct payment for the costs of construction, | |
25 | rehabilitation, enlargement, provision of service utilities, and razing of facilities, and other | |
26 | improvements to land in connection with the implementation of any projects set forth in Section 1 | |
27 | hereof; and (d) to direct payment for the cost of equipment, supplies, devices, materials and labor | |
28 | for repair, renovation or conversion of systems and structures as necessary for the 2020 capital | |
29 | development program bonds or notes hereunder from the proceeds thereof. No funds shall be | |
30 | expended in excess of the amount of the capital development bond fund designated for each project | |
31 | authorized in Section 1 hereof. With respect to the bonds and temporary notes described in Section | |
32 | 1, the proceeds shall be used for the following purposes: | |
33 | Question 1, relating to bonds in the amount of one hundred seven million three hundred | |
34 | thousand dollars ($107,300,000) to provide funding for higher education facilities to be allocated | |
|
| |
1 | as follows: | |
2 | (a) University of Rhode Island Fine Arts Center $57,300,000 | |
3 | Provides fifty-seven million three hundred thousand dollars ($57,300,000) to fund repairs | |
4 | and construct a new facility on the University of Rhode Island's Kingston campus in support of the | |
5 | educational needs for the musical, theatrical, visual, and graphic arts disciplines. | |
6 | (b) Rhode Island College Clarke Science Building Renovation $38,000,000 | |
7 | Provides thirty-eight million dollars ($38,000,000) to reconstruct Clarke Science Building | |
8 | on the campus of Rhode Island College. This project will improve the science and technology | |
9 | laboratories and facilities that support high-demand degree programs critical to the college's | |
10 | mission of statewide workforce development. | |
11 | (c) Community College of Rhode Island Renovation and Modernization $12,000,000 | |
12 | Provides twelve million dollars ($12,000,000) to fund restoration and enhancement of | |
13 | academic and student support spaces and other infrastructure on the four campuses of the | |
14 | Community College of Rhode Island (CCRI). Funds will go towards modernizing and renovating | |
15 | facilities, addressing repairs, improving safety and energy efficiency, and replacing outdated | |
16 | technology and equipment used for teaching and learning. | |
17 | Question 2, relating to bonds in the amount of seventy-four million dollars ($74,000,000) | |
18 | for environmental and recreational purposes, to be allocated as follows: | |
19 | (a) State Beaches, Parks, and Campgrounds $33,000,000 | |
20 | Provides thirty-three million dollars ($33,000,000) for major capital improvements to state | |
21 | beaches, parks, and campgrounds, including the design, development, expansion, and renovation | |
22 | of new and existing facilities. Improvements may include a new facility at Goddard Park beach; | |
23 | recreational facility improvements, upgraded facilities including new bathrooms at Roger Wheeler | |
24 | State beach, Scarborough State beach, Misquamicut State beach, and Brenton Point; and | |
25 | campground improvements including new bathrooms facilities and utility upgrades. | |
26 | (b) I-195 Park $4,000,000 | |
27 | Provides four million dollars ($4,000,000) for I-195 Park infrastructure development. | |
28 | (c) Local Recreation Projects $4,000,000 | |
29 | Provides four million dollars ($4,000,000) for up to eighty percent (80%) matching grants | |
30 | for municipalities to acquire, develop, or rehabilitate local recreational facilities to meet the | |
31 | growing needs for active outdoor recreational facilities. | |
32 | (d) Natural and Working Lands $3,000,000 | |
33 | Provides three million dollars ($3,000,000) to protect working forest and farm lands | |
34 | throughout Rhode Island including through the purchase of forest conservation easements, the | |
|
| |
1 | purchase of development rights by the Agricultural Lands Preservation Commission, and the State | |
2 | Farmland Access Program. | |
3 | (e) Clean Water and Drinking Water $15,000,000 | |
4 | Provides fifteen million dollars ($15,000,000) for clean water and drinking water | |
5 | infrastructure improvements. Clean water projects include wastewater collection and treatment | |
6 | upgrades, stormwater resilience improvements, combined sewer overflow initiatives, water | |
7 | pollution control, and other water quality protection activities. Drinking water projects include | |
8 | construction of and improvements to water supply, treatment, and distribution infrastructure. | |
9 | (f) Municipal Resiliency Projects $7,000,000 | |
10 | Provides seven million dollars ($7,000,000) for up to seventy-five percent (75%) matching | |
11 | grants to municipalities for restoring and/or improving resiliency of infrastructure, vulnerable | |
12 | coastal habitats, and restoring rivers and stream floodplains. These funds are expected to leverage | |
13 | significant matching funds to support local programs to improve community resiliency and public | |
14 | safety in the face of increased flooding, major storm events, and environmental degradation. | |
15 | (g) Providence River Dredging $6,000,000 | |
16 | Provides six million dollars ($6,000,000) for additional dredging analysis and the dredging | |
17 | of the Downtown Providence Rivers. | |
18 | (h) Woonasquatucket River Watershed $2,000,000 | |
19 | Provides for two million dollars ($2,000,000) in grants to the Woonasquatucket River | |
20 | Watershed Council to develop, improve, or rehabilitate public recreational projects and | |
21 | infrastructure along the Woonasquatucket River Greenway. | |
22 | Question 3, relating to bonds in the amount of sixty-five million dollars ($65,000,000) to | |
23 | increase the availability of affordable housing and support community revitalization through the | |
24 | redevelopment of existing structures, new construction, and property acquisition. | |
25 | Question 4, relating to bonds in the amount of seventy-one million seven hundred thousand | |
26 | dollars ($71,700,000) to match federal funds and provide direct funding for needed and planned | |
27 | improvements to the state's transportation infrastructure, including ports, highways, roads and | |
28 | bridges. This investment will create jobs by continuing needed construction throughout the state. | |
29 | Question 5, relating to bonds in the amount of fifteen million dollars ($15,000,000) for | |
30 | physical improvements to and development of early childhood education facilities through an Early | |
31 | Childhood Care and Education Capital Fund. Quality early childhood education and child care is | |
32 | necessary for a robust economy in support of parents in the workplace and as foundation to the | |
33 | academic success of Rhode Island's children. In 2019, only twenty percent (20%) of the physical | |
34 | space licensed for the State's four-year-old population meets the State definition of quality, and | |
|
| |
1 | there are eighteen (18) cities and towns that do not have any infant/toddler care options. These | |
2 | funds will support greater access to safe, high-quality early learning opportunities for Rhode Island | |
3 | children. | |
4 | Question 6, relating to bonds in the amount of seven million dollars ($7,000,000) to fund | |
5 | the Cultural Arts and the Economy Grant Program and the State Preservation Grants Program, to | |
6 | be allocated as follows: | |
7 | (a) Cultural Arts and the Economy Grant Program $6,000,000 | |
8 | Provides funds for 1:1 matching grants to continue the Cultural Arts and the Economy | |
9 | Grant program administered by the Rhode Island State Council on the Arts (RISCA) for capital | |
10 | improvement, preservation and renovation projects for public and nonprofit artistic, performance | |
11 | centers and cultural art centers located throughout the State of Rhode Island. Contracts for | |
12 | construction entered into, on, or after November 6, 2014 shall be in compliance with § 37-13-1 et | |
13 | seq. (prevailing wage); however, contracts entered into prior to November 6, 2014 shall not be | |
14 | subject to this requirement. | |
15 | 1. Trinity Repertory Company $2,500,000 | |
16 | For the Lederer Theater, in Providence, used for performance facilities, educational | |
17 | instruction, production and administration. | |
18 | 2. Rhode Island Philharmonic $1,500,000 | |
19 | For the Carter Center for Music Education and Performance in East Providence, used for | |
20 | music teaching, learning, performance and administration. | |
21 | 3. Other funds to be allocated by RISCA $2,000,000 | |
22 | For 1:1 matching grants to be allocated by RISCA to 501(c)(3) nonprofit cultural | |
23 | organizations which lease or own their performance space, and for RISCA expenses in | |
24 | administering the program. In awarding such grants RISCA shall consider financial need, the | |
25 | availability or actual expenditure of matching funds for the projects, available gifts or grants for | |
26 | projects, the amount of square footage to be improved, the geographical location and characteristics | |
27 | of audiences benefitted. | |
28 | (b) State Preservation Grants Program $1,000,000 | |
29 | Provides one million dollars ($1,000,000) in funding to cities, towns and nonprofit | |
30 | organizations to preserve, renovate and improve public and nonprofit historic sites, museums, and | |
31 | cultural art centers located in historic structures in the State of Rhode Island to be administered by | |
32 | the Rhode Island Historical Preservation and Heritage Commission. | |
33 | Question 7, relating to bonds in the amount of sixty million dollars ($60,000,000) to fund | |
34 | industrial facilities infrastructure improvements, to be allocated as follows: | |
|
| |
1 | (a) Industrial Site Development $40,000,000 | |
2 | Provides forty million dollars ($40,000,000) for the Quonset Development Corporation | |
3 | (QDC) to competitively fund, acquire, assemble, prepare, expand and/or develop industrial sites | |
4 | and facilities statewide for purposes related to manufacturing, assembly, distribution, production, | |
5 | processing, offshore wind, and other job-producing activities. QDC shall negotiate and execute a | |
6 | Rhode Island benefits agreement with projects in which QDC makes a direct investment. QDC, as | |
7 | part of its due diligence, shall also administer small grants for pre-development purposes. | |
8 | (b) Port of Davisville Infrastructure at Quonset $20,000,000 | |
9 | Provides twenty million dollars ($20,000,000) for infrastructure projects that will support | |
10 | the continued growth and modernization at the Port of Davisville. This investment will finance the | |
11 | Port master plan, including construction of a new Pier at Terminal Five, the rehabilitation of Pier | |
12 | One and dredging. These projects will position Davisville to accommodate offshore wind project | |
13 | cargo and logistics staging while continuing to support the Port's existing businesses. | |
14 | SECTION 7. Sale of bonds and notes. -- Any bonds or notes issued under the authority of | |
15 | this Act shall be sold at not less than the principal amount thereof, in such mode and on such terms | |
16 | and conditions as the General Treasurer, with the approval of the Governor, shall deem to be in the | |
17 | best interests of the State. | |
18 | Any premiums and accrued interest, net of the cost of bond issuance and underwriter's | |
19 | discount, which may be received on the sale of the capital development bonds or notes shall become | |
20 | part of the Rhode Island Capital Plan Fund of the State, unless directed by federal law or regulation | |
21 | to be used for some other purpose. | |
22 | In the event that the amount received from the sale of the capital development bonds or | |
23 | notes exceeds the amount necessary for the purposes stated in Section 6 hereof, the surplus may be | |
24 | used to the extent possible to retire the bonds as the same may become due, to redeem them in | |
25 | accordance with the terms thereof or otherwise to purchase them as the General Treasurer, with the | |
26 | approval of the Governor, shall deem to be in the best interests of the state. | |
27 | Any bonds or notes issued under the provisions of this Act and coupons on any capital | |
28 | development bonds, if properly executed by the manual or electronic signatures of officers of the | |
29 | State in office on the date of execution, shall be valid and binding according to their tenor, | |
30 | notwithstanding that before the delivery thereof and payment therefor, any or all such officers shall | |
31 | for any reason have ceased to hold office. | |
32 | SECTION 8. Bonds and notes to be tax exempt and general obligations of the State. -- | |
33 | All bonds and notes issued under the authority of this Act shall be exempt from taxation in the State | |
34 | and shall be general obligations of the State, and the full faith and credit of the State is hereby | |
|
| |
1 | pledged for the due payment of the principal and interest on each of such bonds and notes as the | |
2 | same shall become due. | |
3 | SECTION 9. Investment of moneys in fund. -- All moneys in the capital development | |
4 | fund not immediately required for payment pursuant to the provisions of this act may be invested | |
5 | by the investment commission, as established by Chapter 10 of Title 35, entitled "State Investment | |
6 | Commission," pursuant to the provisions of such chapter; provided, however, that the securities in | |
7 | which the capital development fund is invested shall remain a part of the capital development fund | |
8 | until exchanged for other securities; and provided further, that the income from investments of the | |
9 | capital development fund shall become a part of the general fund of the State and shall be applied | |
10 | to the payment of debt service charges of the State, unless directed by federal law or regulation to | |
11 | be used for some other purpose, or to the extent necessary, to rebate to the United States treasury | |
12 | any income from investments (including gains from the disposition of investments) of proceeds of | |
13 | bonds or notes to the extent deemed necessary to exempt (in whole or in part) the interest paid on | |
14 | such bonds or notes from federal income taxation. | |
15 | SECTION 10. Appropriation. -- To the extent the debt service on these bonds is not | |
16 | otherwise provided, a sum sufficient to pay the interest and principal due each year on bonds and | |
17 | notes hereunder is hereby annually appropriated out of any money in the treasury not otherwise | |
18 | appropriated. | |
19 | SECTION 11. Advances from general fund. -- The General Treasurer is authorized, with | |
20 | the approval of the Director and the Governor, in anticipation of the issue of notes or bonds under | |
21 | the authority of this Act, to advance to the capital development bond fund for the purposes specified | |
22 | in Section 6 hereof, any funds of the State not specifically held for any particular purpose; provided, | |
23 | however, that all advances made to the capital development bond fund shall be returned to the | |
24 | general fund from the capital development bond fund forthwith upon the receipt by the capital | |
25 | development fund of proceeds resulting from the issue of notes or bonds to the extent of such | |
26 | advances. | |
27 | SECTION 12. Federal assistance and private funds. -- In carrying out this act, the | |
28 | Director, or his or her designee, is authorized on behalf of the State, with the approval of the | |
29 | Governor, to apply for and accept any federal assistance which may become available for the | |
30 | purpose of this Act, whether in the form of loan or grant or otherwise, to accept the provision of | |
31 | any federal legislation therefor, to enter into, act and carry out contracts in connection therewith, | |
32 | to act as agent for the federal government in connection therewith, or to designate a subordinate so | |
33 | to act. Where federal assistance is made available, the project shall be carried out in accordance | |
34 | with applicable federal law, the rules and regulations thereunder and the contract or contracts | |
|
| |
1 | providing for federal assistance, notwithstanding any contrary provisions of State law. Subject to | |
2 | the foregoing, any federal funds received for the purposes of this Act shall be deposited in the | |
3 | capital development bond fund and expended as a part thereof. The Director or his or her designee | |
4 | may also utilize any private funds that may be made available for the purposes of this Act. | |
5 | SECTION 13. Special Election Finding. -- In accordance with § 35-3-7.1(c), the general | |
6 | assembly finds a compelling need for the public health, safety, or welfare to present this capital | |
7 | referendum at a special election. | |
8 | SECTION 14. Predominantly Mail Ballot Election. -- In order to protect the health, | |
9 | safety and welfare of the residents of Rhode Island who continue to be exposed to a pandemic | |
10 | caused by COVID-19, the Special Election shall be a predominantly mail ballot election. Any | |
11 | requirement relating to the witnessing or notarization of regular mail ballots as set forth in §§ 17- | |
12 | 20-2.1, 17-20-2.2 and 17-20-23 or in any other provision of title 17 of the general laws shall be | |
13 | waived. The Board of Elections and local boards of canvassers, working in conjunction with the | |
14 | Secretary of State, shall also be authorized to utilize the other modified election procedures of the | |
15 | 2020 Primary and/or General Election, including those implemented pursuant to Executive Orders, | |
16 | notwithstanding any law inconsistent with those procedures, in order to effectuate a predominantly | |
17 | mail ballot election. | |
18 | SECTION 15. Effective Date. -- Sections 1, 2, 3, 11, 12, 13, 14 and this Section 15 of this | |
19 | article shall take effect upon passage. The remaining sections of this article shall take effect when | |
20 | and if the State Board of Elections shall certify to the Secretary of State that a majority of the | |
21 | qualified electors voting on the proposition contained in Section 1 hereof have indicated their | |
22 | approval of all or any projects thereunder. | |
|
|