Rhode Island House Bill H6335

Rhode Island 2023 Regular Session

• Introduced: 4/26/23
• Refer: 4/26/23
• Report Pass: 5/30/23
• Engrossed: 6/1/23
• Enrolled: 6/6/23
• Passed: 6/12/23

Caption

In Accordance With Rhode Island General Laws Section 16-7-44 Approving The Issuance Of $1,000,000 Bonds By The Town Of Scituate To Finance A Water Project At The Scituate High School/middle School Including, But Not Limited To, Bonds And Notes Issued Pursuant To Financing Agreements With The Rhode Island Infrastructure Bank

Impact

The enactment of H6335 would have a significant impact on local financing capabilities, empowering Scituate to undertake necessary infrastructure improvements through bond financing, while also streamlining the process required for approval by the Rhode Island Department of Education. This bill's approval reflects a commitment to investing in educational infrastructure and ensuring that essential projects receive the requisite funding to proceed.

Summary

House Bill H6335, introduced by Representative Robert J. Quattrocchi, seeks to authorize the issuance of up to $1,000,000 in general obligation bonds by the town of Scituate. The funds from these bonds are specifically designated for financing a water project at the Scituate High School/Middle School. This act is a response to the town's approval in their financial town meeting held in April 2023, aligning with previously established state laws concerning municipal finance and infrastructure financing agreements.

Contention

There appeared to be a consensus regarding the necessity of funding for the project, with minimal contention during the discussions. However, as with any bond issuance, there are underlying concerns regarding the long-term fiscal responsibility to residents and how such debt impacts the town’s financial standing. While the bill is poised for favorable reception among local stakeholders, potential debates may arise regarding the prioritization of funds and projects involved.