2014 -- H 8342
Enacted 07/08/14
A N A C T
Introduced By: Representatives Slater, and Carnevale
Date Introduced: June 17, 2014
It is enacted by the General Assembly as follows:
SECTION 1. In accordance with Title 45, Chapter 50 of the general laws, the Providence Public Buildings Authority is hereby empowered to issue lease revenue bonds or other evidences of indebtedness up to an amount not exceeding ten million dollars ($10,000,000) from time to time under its corporate name and seal, to provide funding for "Warm, Safe and Dry" health and safety projects in Providence public schools, consisting of renovation, rehabilitation, repair, replacement, improvement, furnishing and equipping of schools and school facilities, including, but not limited to, remediation of fire code violations, repair, replacement, improvement and installation of roofs, heating, ventilation, air conditioning and fire alarm systems, including design and feasibility, engineering or other studies which may be necessary in connection therewith and other acts incidental thereto.
SECTION 2. In accordance with § 16-7-44 of the general laws, the principal of, and interest on such bonds or evidences of indebtedness shall be eligible for state housing aid reimbursement.
SECTION 3. This act serves as the enabling act required by Rhode Island General Laws § 16-7-44 and shall take effect upon passage provided that no lease revenue bonds or other evidences of indebtedness shall be issued unless and until the Rhode Island Department of Education ("RIDE") has granted approval for the project.
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LC005979
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