Chapter 286
2008 -- S 3061
Enacted 07/08/08
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: Senator C Levesque
Date
Introduced: May 29, 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.
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LC03005
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