Senate Bill #2853 (2020)

AN ACT AUTHORIZING THE CITY OF NEWPORT TO ISSUE NOT TO EXCEED $106,500,000 GENERAL OBLIGATION BONDS, NOTES AND OTHER EVIDENCES OF INDEBTEDNESS TO FINANCE ALL COSTS RELATING TO THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, LANDSCAPING, FURNISHING AND EQUIPPING OF: (I) AN ADDITION TO THE CLAIBORNE PELL ELEMENTARY SCHOOL, INCLUDING, BUT NOT LIMITED TO, CLASSROOMS AND ASSOCIATED SUPPORT SPACE, SITE IMPROVEMENTS, AND PARKING AND (II) A NEW SCHOOL FACILITY FOR THE WILLIAM S. ROGERS HIGH SCHOOL, 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

Authorizes the city of Newport to issue not more than $106,500,000 general obligation bonds, notes and other evidences of indebtedness to finance all costs relating to school improvements.

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