A N A C T
RELATING TO PROVIDENCE COUNTRY DAY SCHOOL
It is enacted by the General Assembly as follows:
SECTION 1. Section 1 of that act passed at the January Session, 1969, entitled "AN ACT AUTHORIZING PROVIDENCE COUNTRY DAY SCHOOL, OF THE CITY OF EAST PROVIDENCE, RHODE ISLAND, TO TAKE, HOLD, TRANSMIT AND CONVEY REAL AND PERSONAL ESTATE TO AN AMOUNT NOT EXCEEDING TWO MILLION FIVE HUNCRED THOUSAND DOLLARS" is hereby amended to read as follows:
Section 1. Providence Country Day School, incorporated as an educational organization on May 22, 1923, is hereby authorized and empowered to take, hold, transmit and convey real and personal estate to an amount not exceeding two million five hundred thousand dollars ($2,500,000.00) twelve million dollars ($12,000,000).
In addition, all the real, mixed, and personal property of the Providence Country Day School shall be exempt from local taxation to an amount not exceeding twelve million dollars ($12,000,000), so long as said property shall be used for educational purposes.
SECTION 2. This act shall take effect upon passage.