Rhode Island 2023 Regular Session

Rhode Island House Bill H6479

Introduced
6/2/23  
Refer
6/2/23  
Report Pass
6/12/23  
Engrossed
6/13/23  
Enrolled
6/14/23  

Caption

Authorizing The Town Of Cumberland To Issue Not To Exceed $52,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of A New Elementary School And Other Related School Facilities And The Demolition Of An Existing Elementary School On Land Presently Occupied By The B.f. Norton School In The Town Provided That The Authorization Shall Be Reduced By Any Grant Received From The School Building Authority Capital Fund

Impact

This legislation empowers the town to raise funds through bonds, which will be primarily directed towards essential school facilities. The borrowing amount will be reduced by any grant received from the school building authority capital fund. This ensures that the financial burden is lessened if state assistance is available, thereby impacting local tax rates and budgets potentially. The passing of this bill will have implications for the town's debt management strategy, as any issued bonds are considered obligations of the town.

Summary

House Bill H6479 authorizes the town of Cumberland to issue general obligation bonds and notes not exceeding $52,000,000 for financing various school construction projects. These projects include the construction, renovation, improvement, alteration, furnishing, and equipping of a new elementary school, as well as the demolition of the existing B.F. Norton School. The bill reflects a significant investment in educational infrastructure aimed at enhancing the quality of schooling for the town's residents.

Contention

One notable point in the discussions surrounding H6479 was whether the issuance of such a large sum in bonds could impact local taxation rates, given that taxpayers will ultimately be responsible for repaying these debts. Additionally, it was imperative for the school projects to receive approval from the Rhode Island Department of Education to qualify for state reimbursement of housing aid. Thus, ensuring both accountability and financial prudence were key concerns raised during the bill's deliberation.

Companion Bills

No companion bills found.

Previously Filed As

RI S1091

Authorizing The Town Of Cumberland To Issue Not To Exceed $52,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of A New Elementary School And Other Related School Facilities And The Demolition Of An Existing Elementary School On Land Presently Occupied By The B.f. Norton School In The Town Provided That The Authorization Shall Be Reduced By Any Grant Received From The School Building Authority Capital Fund

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 H8218

Authorizing The Town Of Westerly 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, Furnishing And Equipping Of Schools And School Facilities Throughout The Town, Subject To Approval Of State Housing Aid At A Reimbursement Rate Or State Share Ratio Of Not Less Than 35% For Expenditures Eligible For State Aid And Provided That The Authorization Shall Be Reduced By Any Grant Received From The School Building Authority Capital Fund

RI S2927

Authorizing The Town Of Westerly 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, Furnishing And Equipping Of Schools And School Facilities Throughout The Town, Subject To Approval Of State Housing Aid At A Reimbursement Rate Or State Share Ratio Of Not Less Than 35% For Expenditures Eligible For State Aid And Provided That The Authorization Shall Be Reduced By Any Grant Received From The School Building Authority Capital Fund

RI S0674

AUTHORIZING THE CITY OF CENTRAL FALLS TO FINANCE THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES IN THE CITY BY THE ISSUANCE OF NOT MORE THAN $15,000,000 BONDS, NOTES AND/OR OTHER EVIDENCES OF INDEBTEDNESS THEREFOR

RI H6077

AUTHORIZING THE CITY OF CENTRAL FALLS TO FINANCE THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES IN THE CITY BY THE ISSUANCE OF NOT MORE THAN $15,000,000 BONDS, NOTES AND/OR OTHER EVIDENCES OF INDEBTEDNESS THEREFOR

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 S2960

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 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

Similar Bills

RI S1091

Authorizing The Town Of Cumberland To Issue Not To Exceed $52,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of A New Elementary School And Other Related School Facilities And The Demolition Of An Existing Elementary School On Land Presently Occupied By The B.f. Norton School In The Town Provided That The Authorization Shall Be Reduced By Any Grant Received From The School Building Authority Capital Fund

LA HB626

Provides relative to conflicts of interest for members of the State Board of Elementary and Secondary Education and the Superintendent of Education (OR SEE FISC NOTE GF EX)

LA HB246

Provides relative to certain prohibited conflicts for members of the State Board of Elementary and Secondary Education and the superintendent of education

LA SB61

Provides exception to Code of Govenmental Ethics regarding certain contractual or other relationships by certain municipal elected officials. (8/1/13)

CA SB1235

Public postsecondary education: Artificial Intelligence and Deepfake Working Group.

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 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