Rhode Island 2024 Regular Session

Rhode Island Senate Bill S3092

Introduced
5/24/24  
Refer
5/24/24  
Report Pass
5/28/24  
Engrossed
6/4/24  
Enrolled
6/12/24  

Caption

AUTHORIZING THE CITY OF NEWPORT TO ISSUE NOT TO EXCEED $98,500,000 GENERAL OBLIGATION BONDS AND NOTES TO FINANCE THE DESIGN, CONSTRUCTION, REPAIR, REHABILITATION, REPLACEMENT AND IMPROVEMENT OF INFRASTRUCTURE AND MUNICIPAL FACILITIES IN THE CITY'S NEIGHBORHOODS, INCLUDING, BUT NOT LIMITED TO, LAND ACQUISITION, DEMOLITION, LANDFILL REMEDIATION, STREETS, SIDEWALKS, PUBLIC PARKS, BRIDGES, SEWERS, DRAINAGE, CITY BUILDINGS, AND RECREATION, BEACH AND HARBOR FACILITIES

Impact

The passing of this bill is expected to have significant implications for state laws as it enables Newport to mobilize financial resources for public engagement, urban development, and community infrastructure without immediate reliance on state funding. This ability to issue bonds directly allows the city to swiftly address infrastructural needs and engage in long-term planning and execution of projects that may accentuate community development and resilience.

Summary

S3092 is an act that authorize the city of Newport to issue general obligation bonds and notes up to $98,500,000. The funding raised through these bonds will be directed towards various infrastructure projects and enhancements within the city's neighborhoods. This includes, but is not limited to, costs associated with land acquisition, demolition, landfill remediation, road and sidewalk improvements, as well as the development and maintenance of public spaces such as parks and recreational facilities.

Contention

While the bill primarily serves a broad public interest, potential points of contention may arise around financial management and accountability for the bond issuance. Critics could argue the implications of increased municipal debt and the handling of taxpayer funds. Additionally, there may be discourse regarding which specific projects are prioritized, emphasizing the need for public consultation to ensure community alignment with the development plans outlined in this act.

Companion Bills

No companion bills found.

Previously Filed As

RI S0981

Authorizing The Town Of East Greenwich To Finance The Acquisition, Construction, Improvement, Renovation, Alteration, Furnishing And Equipping Of Public Schools And School Facilities In The Town And All Expenses Incident Thereto Including, But Not Limited To, Costs Of Design, Demolition, Athletic Fields, Landscaping, Parking And Costs Of Financing And To Issue Not More Than $180,000,000 Bonds And/or Notes Therefor

RI H6376

Authorizing The Town Of East Greenwich To Finance The Acquisition, Construction, Improvement, Renovation, Alteration, Furnishing And Equipping Of Public Schools And School Facilities In The Town And All Expenses Incident Thereto Including, But Not Limited To, Costs Of Design, Demolition, Athletic Fields, Landscaping, Parking And Costs Of Financing And To Issue Not More Than $180,000,000 Bonds And/or Notes Therefor

RI H6454

Authorizing The Town Of Lincoln To Issue Not To Exceed $25,000,000 General Obligation Bonds And Notes For The Construction, Renovation, Rehabilitation, Repair, Improvements, Furnishing And Equipping Of And/or Additions To Lincoln Elementary Schools

RI S1069

Authorizing The Town Of Lincoln To Issue Not To Exceed $25,000,000 General Obligation Bonds And Notes For The Construction, Renovation, Rehabilitation, Repair, Improvements, Furnishing And Equipping Of And/or Additions To Lincoln Elementary Schools

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 H5101

Authorizing The Town Of North Providence To Issue Not To Exceed $125,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Rehabilitation, Repair, Improvements, Furnishing And Equipping Of And/or Additions To Schools And School Facilities In The Town, Including, But Not Limited To, The Construction Of Three Elementary Schools, The Renovation Of Two Middle Schools And The Construction Of New Administrative Offices, Subject To Approval Of State Housing Aid At A Reimbursement Rate Or State Share Ratio Of Not Less Than 79.8% For Expenditures Eligible For Reimbursement

RI S0018

Authorizing The Town Of North Providence To Issue Not To Exceed $125,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Rehabilitation, Repair, Improvements, Furnishing And Equipping Of And/or Additions To Schools And School Facilities In The Town, Including, But Not Limited To, The Construction Of Three Elementary Schools, The Renovation Of Two Middle Schools And The Construction Of New Administrative Offices, Subject To Approval Of State Housing Aid At A Reimbursement Rate Or State Share Ratio Of Not Less Than 79.8% For Expenditures Eligible For Reimbursement

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

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