2014 -- S 2126 SUBSTITUTE A

Enacted 03/14/14

IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44, APPROVING THE ISSUANCE OF $6,400,000 BONDS BY THE TOWN OF WEST WARWICK TO FINANCE HEALTH, SAFETY AND FIRE-CODE RELATED EMERGENCY REPAIRS, ALTERATIONS, RENOVATIONS, IMPROVEMENTS AND EQUIPPING OF SCHOOL FACILITIES IN THE TOWN AND ALL ATTENDANT EXPENSES AND APPROVING THE ISSUANCE OF BONDS AND NOTES PURSUANT TO FINANCING AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION

Introduced By: Senators Satchell, and Gallo

Date Introduced: January 22, 2014

It is enacted by the General Assembly as follows:

SECTION 1. The Town of West Warwick is hereby authorized and empowered to issue bonds to an amount not exceeding six million four hundred thousand dollars ($6,400,000), from time to time under its corporate name and seal, pursuant to an ordinance to be adopted by the Town in accordance with the West Warwick Home Rule Charter and Rhode Island General Laws §45-12-2.

SECTION 2. In accordance with §16-7-44 of the general laws, the principal of and interest on such bonds shall be eligible for state housing aid reimbursement.

SECTION 3. This project, which was approved by the Commissioner of Elementary and Secondary Education on or about March 22, 2007, shall be and remain eligible for school housing aid.

SECTION 4. This act serves as the enabling act required by Rhode Island General Laws §16-7-44 and shall take effect upon passage.

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LC003701/SUB A
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