TITLE 35
Public Finance

CHAPTER 35-8.1
Refunding Bond Authority

SECTION 35-8.1-3


§ 35-8.1-3 Definitions.

Unless otherwise indicated by the context, the following definitions shall apply for purposes of this chapter:

(1) "Authority" shall mean this refunding bond authority created by § 35-8.1-4;

(2) "Board" means the board of directors of the authority as constituted by § 35-8.1-5;

(3) "Bond" or "bonds" shall include any bond or note and other instrument or form of indebtedness, whether or not certificated, that may lawfully be issued by the authority;

(4) "Revenues" shall include all loan payments, charges, fees, moneys, profits, gifts, grants, contributions, appropriations, and all other income derived or to be derived by the authority under this chapter;

(5) "State" shall mean the state of Rhode Island and Providence Plantations;

(6) "1984 bonds" shall mean the state's thirty million dollar ($30,000,000) general obligation bonds dated May 1, 1984; and

(7) "1985 bonds" shall mean the state's ninety million dollar ($90,000,000) general obligation bonds dated June 28, 1985.

(8) The word "project" shall mean any public facility or public equipment which the authority is authorized to construct, improve, equip, furnish, maintain, acquire, install, or operate under the provisions of this chapter, to provide for the conduct of the executive, legislative, and judicial functions of government, and its various branches, departments, and agencies, at all levels including federal, state and municipal. The projects may include but need not be limited to judicial, administrative, educational, residential, rehabilitative, medical, correctional, recreational, transportation, public water supply system, and such other projects as the authority shall be requested to initiate to provide effective governmental, health, safety, and welfare services in the state, or by the federal government, or by any municipality or joint or regional agencies of the state or any combination thereof.

(9) The word "person" shall mean and include natural persons, firms, associations, corporations, business trusts, partnerships, and public bodies.

(10) The term "federal agency" shall mean and include the United States of America, and any department of, or corporation, agency, or instrumentality heretofore or hereafter created, designated or established by the United States of America.

(11) The word "construction" shall mean and include acquisition and construction, and the term "to construct" shall mean and include to acquire and to construct, all in such manner as may be deemed desirable.

(12) The term "improvement" shall mean and include extension, enlargement, and improvement, and the term "to improve" shall mean and include to extend, to enlarge, and to improve all in such manner as may be deemed desirable.

(13) The term "public equipment" shall mean and include all tangible personal property, new or used, including without limiting the generality of the foregoing, all machinery, equipment, transportation equipment, maintenance equipment, construction equipment, sanitation equipment, and all other things and rights usually included within the term, including any and all interests in the property which are less than full title, such as leasehold interests, security interests, and every other interest or right, legal, or equitable.

(14) The word "cost" as applied to any project to be constructed or acquired by the authority shall include the cost of acquisition or construction, and, if the project consists of public facilities, the cost of the acquisition of all land, rights of way, property, rights, easements, and interests acquired by the authority for the construction, the cost of demolishing or removing any buildings or structures on land so acquired, including the cost of acquiring any lands to which the buildings or structures may be moved, the cost of all machinery and equipment, financing charges, interest prior to and during construction, and for one year after completion of construction, cost of estimates and of planning, engineering, and legal services, plans, specifications, surveys, estimates of cost and of revenues, other expenses necessary or incident to determining the feasibility or practicability of the construction, administrative expenses and such other expenses as may be necessary or incident to the construction, the financing of the construction and the placing of the project in operation. The word "cost" as applied to any project which the authority may be authorized to acquire shall mean the amount of the purchase price of any public equipment, or if the project consists of public facilities, the amount of any condemnation award in connection with the acquisition of the project, and shall include the cost of acquiring all of the capital stock of the corporation owning the project, if such be the case, and the amount to be paid to discharge all of the obligations of the corporation in order to vest title to the project which may be determined by the authority to be necessary prior to the financing thereof, interest during the period of construction of the improvements and for one year thereafter, the cost of all lands, properties, rights, easements, franchises, and permits acquired, the cost of planning, engineering, and legal services, plans, specifications, surveys, estimates of cost and of revenues, other expenses necessary or incident to determining the feasibility or practicability of the acquisition or improvement, administrative expenses, and such other expense as may be necessary or incident to the financing of the acquisition or improvement, and the placing of the project in operation by the authority. The word "cost" shall include the cost of purchase and installation of solar, wind, and renewable energy systems, which include solar thermal, solar electric, and wind energy systems that provide heating, cooling, hot water, or electricity to a building together with equipment for collection, storage, distribution, and control, including structural components of a building specifically designed to retain heat derived from solar energy.

(15) The word "owner" shall mean and include all individuals, incorporated companies, copartnerships, societies, or associations and also municipalities, political subdivisions and all public agencies and instrumentalities having any title or interest in any property, rights, easements, or franchises authorized to be acquired under the provisions of this chapter.

(16) The words "public facilities" shall mean and include any real property, lands, structures, buildings, facilities, or improvements, new or existing, and shall include all structures, parking facilities, landscaping and other appurtenances and facilities, including fixtures, furnishings, personalty, and equipment, incidental to the use of any building, the site thereof, and any easements, rights-of-way or other property rights appurtenant thereto or necessary or convenient in connection therewith.

(17) The word "municipality" shall mean and include any city or town within the state now existing or hereafter created or any joint, mutual or regional entities, authorizing venture or undertaking involving two (2) or more such cities or towns.

(18) The word "state" shall mean and include the state of Rhode Island and Providence Plantations, any office, department, board, commission, bureau, division, authority, public corporation, agency, or instrumentality thereof.

History of Section.
(P.L. 1987, ch. 12, § 1; P.L. 1997, ch. 30, art. 2, § 4.)