Rhode Island 2022 Regular Session

Rhode Island Senate Bill S2960

Introduced
5/19/22  
Refer
5/19/22  
Report Pass
5/24/22  
Engrossed
6/7/22  
Refer
6/18/22  
Report Pass
6/21/22  
Enrolled
6/22/22  

Caption

Authorizing The Town Of Middletown To Issue Not To Exceed $235,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Improvement, Alteration, Repair, Landscaping, Furnishing And Equipping Of New Elementary, Middle And High Schools And School Facilities Throughout The Town, And All Attendant Expenses Including, But Not Limited To, Demolition, Engineering And Architectural Costs; Provided That, The Authorization Shall Be Reduced By The Amount Of Certain Grants Received From State Bond Proceeds, From The Rhode Island Department Of Education Or From The Rhode Island School Building Authority

Impact

The enactment of S2960 will significantly impact state laws regarding municipal borrowing and school funding. By enabling the town of Middletown to raise substantial funds through bonds, it directly affects the town's financial capacity and its educational infrastructure. This legislation provides a financial framework that aids in the betterment of educational services by reallocating state resources effectively towards improving school facilities.

Summary

S2960 is a legislative act that authorizes the town of Middletown to issue up to $235,000,000 in general obligation bonds, notes, and other forms of indebtedness. The funds generated from this bond issuance are intended to finance the construction, renovation, and general improvement of elementary, middle, and high schools and various school facilities within the town. Additionally, this act covers all attendant expenses such as demolition and engineering costs associated with these projects.

Contention

Notably, debate surrounding S2960 may arise concerning the financial obligations it places on the town and its voters. The community's acceptance of the bond issue is contingent upon a favorable vote during the upcoming election, where qualified voters will decide if they support the bond authorization. Potential opposition could stem from concerns regarding increased taxes or long-term debt implications for the town's budget. Furthermore, there are stipulations that require any grants received from the state to reduce the amount of debt incurred, which may create additional layers of complexity in the funding process.

Companion Bills

No companion bills found.

Previously Filed As

RI H8257

Authorizing The Town Of Middletown To Issue Not To Exceed $235,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Improvement, Alteration, Repair, Landscaping, Furnishing And Equipping Of New Elementary, Middle And High Schools And School Facilities Throughout The Town, And All Attendant Expenses Including, But Not Limited To, Demolition, Engineering And Architectural Costs; Provided That, The Authorization Shall Be Reduced By The Amount Of Certain Grants Received From State Bond Proceeds, From The Rhode Island Department Of Education Or From The Rhode Island School Building Authority

RI H5526

Authorizing The Town Of Middletown To Issue Not To Exceed $190,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Furnishing And Equipping Of A Middle School And High School And The Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of School Facilities Throughout The Town And All Attendant Expenses Including, But Not Limited To, Demolition, Engineering, Architectural And Landscaping Costs

RI S0206

Authorizing The Town Of Middletown To Issue Not To Exceed $190,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Furnishing And Equipping Of A Middle School And High School And The Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of School Facilities Throughout The Town And All Attendant Expenses Including, But Not Limited To, Demolition, Engineering, Architectural And Landscaping Costs

RI H6129

AUTHORIZING THE TOWN OF WEST WARWICK TO ISSUE NOT TO EXCEED $71,000,000 GENERAL OBLIGATION BONDS AND NOTES TO FINANCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, RENOVATION, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES THROUGHOUT THE TOWN AND ALL ATTENDANT EXPENSES INCLUDING, BUT NOT LIMITED TO, DEMOLITION, ENGINEERING, ARCHITECTURAL AND LANDSCAPING COSTS

RI S1126

AUTHORIZING THE TOWN OF WEST WARWICK TO ISSUE NOT TO EXCEED $71,000,000 GENERAL OBLIGATION BONDS AND NOTES TO FINANCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, RENOVATION, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES THROUGHOUT THE TOWN AND ALL ATTENDANT EXPENSES INCLUDING, BUT NOT LIMITED TO, DEMOLITION, ENGINEERING, ARCHITECTURAL AND LANDSCAPING COSTS

RI H7028

Authorizing The Town Of Johnston To Issue Not To Exceed $215,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance Construction, Additions, Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of Schools And School Facilities Throughout The Town, Provided That The Authorization Shall Be Reduced By Any Grant Received From The School Building Authority Capital Fund

RI S2020

Authorizing The Town Of Johnston To Issue Not To Exceed $215,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance Construction, Additions, Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of Schools And School Facilities Throughout The Town, Provided That The Authorization Shall Be Reduced By Any Grant Received From The School Building Authority Capital Fund

RI S0994

Authorizing The Town Of South Kingstown To Issue Not To Exceed $125,000,000 General Obligation Bonds And Notes To Finance The Acquisition, Construction, Improvement, Renovation, Furnishing And Equipping Of A New High School, Athletic Facility, And Other School Facilities In The Town And All Expenses Incident Thereto, Including, But Not Limited To, Costs Of Design, Demolition, Athletic Fields, Landscaping And Parking And All Attendant Expenses, Including Engineering, Architectural And Other Project-related Consulting Costs, Provided That The Authorization Shall Be Reduced By The Amount Of Certain Grants Received From State Bond Proceeds, From The Rhode Island Department Of Education Or From The Rhode Island School Building Authority

RI H6276

Authorizing The Town Of South Kingstown To Issue Not To Exceed $125,000,000 General Obligation Bonds And Notes To Finance The Acquisition, Construction, Improvement, Renovation, Furnishing And Equipping Of A New High School, Athletic Facility, And Other School Facilities In The Town And All Expenses Incident Thereto, Including, But Not Limited To, Costs Of Design, Demolition, Athletic Fields, Landscaping And Parking And All Attendant Expenses, Including Engineering, Architectural And Other Project-related Consulting Costs, Provided That The Authorization Shall Be Reduced By The Amount Of Certain Grants Received From State Bond Proceeds, From The Rhode Island Department Of Education Or From The Rhode Island School Building Authority

RI H6299

AUTHORIZING THE CITY OF WARWICK TO ISSUE NOT TO EXCEED $50,000,000 GENERAL OBLIGATION BONDS, NOTES AND OTHER EVIDENCES OF INDEBTEDNESS TO FINANCE THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, LANDSCAPING, DEMOLITION, ARCHITECTURAL COSTS, ENGINEERING, FURNISHING AND EQUIPPING OF

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