RI
Rhode Island House Bill H6296
Rhode Island 2023 Regular Session
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Rhode Island 2023 Regular Session

Rhode Island House Bill H6296

Introduced
4/19/23  
Refer
4/19/23  
Report Pass
5/25/23  
Engrossed
5/30/23  
Engrossed
6/1/23  

Caption

Authorizing The Town Of Coventry To Issue Not More Than $25,000,000 Bonds And Notes To Finance Construction, Renovation, Rehabilitation, Repair, Improvement, Furnishing And/or Equipping Of And/or Additions To Schools And School Facilities Throughout The Town, Subject To Approval Of State School Housing Aid At A Reimbursement Rate Or State Share Ratio Of Not Less Than 49.2 % For Expenditures Eligible For Reimbursement

Impact

The passage of HB 6296 will provide significant financial resources for the town of Coventry to upgrade its school facilities. By enabling capital improvement projects, the bill is expected to strengthen the educational framework within the community. The state’s commitment to providing a substantial reimbursement rate will lessen the financial burden on local taxpayers and ensure that the schools remain up-to-date and adequately equipped for modern education.

Summary

House Bill 6296 authorizes the town of Coventry to issue up to $25 million in bonds and notes for financing construction, renovation, rehabilitation, and expansion of school facilities throughout the town. This financial initiative is contingent on receiving state school housing aid at a reimbursement rate of no less than 49.2 percent for eligible expenditures. The legislation is aimed at addressing necessary improvements and expansions in the educational infrastructure to enhance the learning environment for students in Coventry.

Sentiment

The general sentiment around HB 6296 seems positive, with support from both the community and local government as a proactive measure to enhance educational facilities. Lawmakers and constituents alike recognize the importance of investing in school infrastructure as a key factor in delivering quality education. There is an evident enthusiasm for improving local schools, reflecting a broader commitment to student success and community development.

Contention

While the bill has garnered broad support, debates may arise regarding fiscal responsibility and concerns over local indebtedness. Opponents could question the long-term implications of increased borrowing and whether the reimbursement rate is sustainable. Furthermore, the necessity for a special election to approve the bond issuance might raise concerns about public sentiment and participation in the decision-making process regarding school funding.

Latest RI H6296 Activity

View All Events: RI 2023 Regular Session H6296

Companion Bills

No companion bills found.

Previously Filed As

RI S3243

AUTHORIZING THE TOWN OF PORTSMOUTH TO ISSUE NOT TO EXCEED $41,000,000 GENERAL OBLIGATION BONDS, NOTES AND OTHER EVIDENCES OF INDEBTEDNESS TO FINANCE THE CONSTRUCTION, ADDITIONS, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES THROUGHOUT THE TOWN

RI H8488

AUTHORIZING THE TOWN OF PORTSMOUTH TO ISSUE NOT TO EXCEED $41,000,000 GENERAL OBLIGATION BONDS, NOTES AND OTHER EVIDENCES OF INDEBTEDNESS TO FINANCE THE CONSTRUCTION, ADDITIONS, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES THROUGHOUT THE TOWN

RI H8300

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 $25,000,000 BONDS, NOTES AND/OR OTHER EVIDENCES OF INDEBTEDNESS THEREFOR

RI S3087

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 $25,000,000 BONDS, NOTES AND/OR OTHER EVIDENCES OF INDEBTEDNESS THEREFOR

RI H6129

AUTHORIZING THE TOWN OF WEST WARWICK TO ISSUE NOT TO EXCEED $71,000,000 GENERAL OBLIGATION BONDS AND NOTES TO FINANCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, RENOVATION, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES THROUGHOUT THE TOWN AND ALL ATTENDANT EXPENSES INCLUDING, BUT NOT LIMITED TO, DEMOLITION, ENGINEERING, ARCHITECTURAL AND LANDSCAPING COSTS

RI S1126

AUTHORIZING THE TOWN OF WEST WARWICK TO ISSUE NOT TO EXCEED $71,000,000 GENERAL OBLIGATION BONDS AND NOTES TO FINANCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, RENOVATION, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES THROUGHOUT THE TOWN AND ALL ATTENDANT EXPENSES INCLUDING, BUT NOT LIMITED TO, DEMOLITION, ENGINEERING, ARCHITECTURAL AND LANDSCAPING COSTS

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 H8527

AUTHORIZING THE CHARIHO REGIONAL SCHOOL DISTRICT TO FINANCE THE CONSTRUCTION, FURNISHING AND EQUIPPING OF AN ELEMENTARY SCHOOL SERVING THE TOWNS OF CHARLESTOWN, RICHMOND AND HOPKINTON, CONSISTING OF ONE OR MORE BUILDINGS ON A SINGLE CAMPUS, AND IMPROVEMENTS AT THE SWITCH ROAD CAMPUS INCLUDING, BUT NOT LIMITED TO, COSTS OF LAND ACQUISITION, DEMOLITION, DESIGN, HEALTH AND SAFETY PROJECTS, PLAYGROUNDS, LANDSCAPING, PAVING, AND ALL EXPENSES INCIDENTAL THERETO, BY THE ISSUANCE OF NOT MORE THAN $116,000,000 BONDS AND/OR NOTES THEREFOR, SUBJECT TO APPROVAL OF STATE HOUSING AID AT A REIMBURSEMENT RATE OR STATE SHARE RATIO OF NOT LESS THAN 61% AT THE TIME OF ISSUANCE, WHICH RATE OR RATIO MAY INCREASE TO 65% AT PROJECT COMPLETION

RI S3242

AUTHORIZING THE CHARIHO REGIONAL SCHOOL DISTRICT TO FINANCE THE CONSTRUCTION, FURNISHING AND EQUIPPING OF AN ELEMENTARY SCHOOL SERVING THE TOWNS OF CHARLESTOWN, RICHMOND AND HOPKINTON, CONSISTING OF ONE OR MORE BUILDINGS ON A SINGLE CAMPUS, AND IMPROVEMENTS AT THE SWITCH ROAD CAMPUS INCLUDING, BUT NOT LIMITED TO, COSTS OF LAND ACQUISITION, DEMOLITION, DESIGN, HEALTH AND SAFETY PROJECTS, PLAYGROUNDS, LANDSCAPING, PAVING, AND ALL EXPENSES INCIDENTAL THERETO, BY THE ISSUANCE OF NOT MORE THAN $116,000,000 BONDS AND/OR NOTES THEREFOR, SUBJECT TO APPROVAL OF STATE HOUSING AID AT A REIMBURSEMENT RATE OR STATE SHARE RATIO OF NOT LESS THAN 61% AT THE TIME OF ISSUANCE, WHICH RATE OR RATIO MAY INCREASE TO 65% AT PROJECT COMPLETION

Similar Bills

No similar bills found.