Rhode Island 2024 Regular Session

Rhode Island House Bill H8086

Introduced
3/20/24  
Refer
3/20/24  
Report Pass
4/9/24  
Engrossed
4/23/24  
Refer
5/29/24  
Report Pass
6/6/24  
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 bill, if passed, signifies a substantial investment in local infrastructure that could have a transformative effect on the community. It allows for the possible reimbursement of debt service costs related to school facilities through state aid, contingent on approval from the Rhode Island Department of Education. This financial leverage not only underscores a commitment to improving community facilities but also positions Newport to better manage its regional obligations and funding sources. As a result, local governance may expect to see an uptick in the development of public spaces that meet the needs of the community.

Summary

House Bill 8086 is legislation that empowers the city of Newport to issue general obligation bonds and notes up to $98,500,000. The primary purpose of these funds is to finance various infrastructure projects and improvements to municipal facilities within the city's neighborhoods. This encompasses a wide range of activities, including land acquisition, demolition, landfill remediation, repairs and construction of streets, sidewalks, public parks, and related amenities such as bridges and recreational facilities. The bill aims to enhance the quality of life for residents and is seen as a vital step in addressing existing infrastructural deficiencies in Newport.

Contention

There may be significant discussions surrounding the potential implications of such funding initiatives, particularly concerning accountability and the management of public funds. Additionally, the necessity for voter approval at the general election indicates that the community will have a direct say in how such financial decisions are handled. Concerns could arise regarding the long-term impact of increased municipal debt, as well as the prioritization of projects funded by these bonds. The broad categories of improvements authorized might lead to debates on which specific projects take precedence and how they align with the city's longer-term strategic planning.

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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