Chapter 271
2010 -- S 2954
Enacted 06/25/10
A N A C T
IN ACCORDANCE
WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44 APPROVING THE ISSUANCE OF UP TO
$3,620,000 LEASE OBLIGATIONS OR OTHER EVIDENCES OF INDEBTEDNESS BY THE TOWN OF NORTH
SMITHFIELD TO FINANCE THE CONSTRUCTION AND EQUIPPING OF AN ENERGY SAVINGS
CAPITAL IMPROVEMENT PROJECT FOR SCHOOLS IN THE TOWN INCLUDING BUT NOT LIMITED
TO LEASE OBLIGATIONS OR OTHER EVIDENCES OF INDEBTEDNESS ISSUED PURSUANT TO
FINANCING AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING
CORPORATION
Introduced
By: Senators Tassoni, P Fogarty, and
Date Introduced: June 01, 2010
It is enacted by the
General Assembly as follows:
SECTION 1. The general assembly finds that:
(1)
The Town of
indebtedness to finance the construction and equipping of an
energy savings capital improvement
project for schools in the town (the "project");
(2)
The town council of the town has indicated its approval of the project pursuant
to a
resolution dated May 17, 2010; and
(3)
The project is scheduled for
on June 3, 2010.
SECTION 2. In accordance with section 16-7-44 of the general
laws, the interest on such
lease obligations shall be eligible for state housing aid
reimbursement.
SECTION 3. This act serves as the enabling act required by
16-7-44 and shall take
effect upon passage provided RIDE approval for the project is obtained
prior to September 1, 2010.
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LC02777
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