Chapter 106

2008 -- H 8051

Enacted 06/30/08

A N A C T

IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44

APPROVING THE ISSUANCE OF $1,100,000 BONDS BY THE TOWN OF PORTSMOUTH TO FINANCE CAPITAL IMPROVEMENTS AT PORTSMOUTH HIGH SCHOOL INCLUDING SUCH IMPROVEMENTS AS ARE NECESSARY TO COMPLY WITH STATE MANDATED FIRE CODE REGULATIONS, INCLUDING BUT NOT LIMITED TO BONDS AND NOTES ISSUED PURSUANT TO FINANCING AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION

Introduced By: Representatives Gallison, Rice, Amaral, and Loughlin

Date Introduced: March 18, 2008

It is enacted by the General Assembly as follows:

     SECTION 1. As previously authorized by Town Ordinance No. 2008-1-28 and Rhode

Island General Laws section 45-12-2, the town of Portsmouth is hereby empowered, in addition

to authority previously granted, to issue bonds to an amount not exceeding one million, one

hundred thousand dollars ($1,100,000), or such lesser amount as is determined by resolution of

the town council, from time to time under its corporate name and seal.

     SECTION 2. In accordance with section 16-7-44 of the general laws, the interest on such

bonds shall be eligible for state housing aid reimbursement.

     SECTION 3. This act shall take effect upon passage.

=======

LC02285

=======