| LA 048 |
| 2019 -- H 5174 Enacted 05/17/2019 |
| A N A C T |
| IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS § 16-7-44 APPROVING THE ISSUANCE OF NOT TO EXCEED $20,000,000 LEASE REVENUE BONDS OR OTHER EVIDENCES OF INDEBTEDNESS BY THE PROVIDENCE PUBLIC BUILDINGS AUTHORITY TO FINANCE THE ACQUISITION, DESIGN, CONSTRUCTION, REPAIR, REHABILITATION, REPLACEMENT AND IMPROVEMENT OF HEALTH AND SAFETY PROJECTS AT THE CITY'S SCHOOLS AND SCHOOL FACILITIES, INCLUDING BUT NOT LIMITED TO BUILDING ENVELOPE REPAIR, MECHANICAL, ELECTRICAL AND PLUMBING IMPROVEMENTS, FIRE CODE COMPLIANCE AND PEST CONTROL, INCLUDING DESIGN AND FEASIBILITY, ENGINEERING OR OTHER STUDIES |
| Introduced By: Representatives Slater, Diaz, Hull, Blazejewski, and Walsh |
| Date Introduced: January 23, 2019 |
| It is enacted by the General Assembly as follows: |
| SECTION 1. In accordance with Chapter 50 of Title 45, 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 twenty million dollars |
| ($20,000,000) from time to time under its corporate name and seal, to provide funding for the |
| acquisition, design, construction, repair, rehabilitation, replacement and improvement of health |
| and safety projects at the City's schools and school facilities, including but not limited to building |
| envelope repair, mechanical, electrical and plumbing improvements, fire code compliance and |
| pest control, 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 for projects for which the Rhode Island |
| Department of Education ("RIDE") has granted approval 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 only such lease revenue bonds or |
| other evidences of indebtedness for projects as that have received RIDE approval shall be eligible |
| for state housing aid reimbursement. |
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| LC000746 |
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