Rhode Island 2023 Regular Session

Rhode Island Senate Bill S1073

Introduced
5/25/23  
Refer
5/25/23  
Report Pass
5/30/23  
Engrossed
6/6/23  
Enrolled
6/12/23  

Caption

Authorizing The Bristol Warren Regional School District To Issue Not To Exceed Two Hundred Million Dollars

Impact

The newly issued bonds will enable the Bristol Warren Regional School District to address critical infrastructure needs by modernizing facilities, which is expected to enhance the educational environment for students. This funding mechanism is vital as it allows for the timely execution of essential projects without immediate tax implications for local residents. The bonds and notes will be repaid through annual appropriations from the district's member towns (Bristol and Warren) as part of their tax levies, thus redistributing some of the financial burden across the district’s tax base.

Summary

Bill S1073 authorizes the Bristol Warren Regional School District to issue general obligation bonds and notes not exceeding $200 million to finance the acquisition, construction, improvement, renovation, furnishing, and equipping of educational facilities, including a new high school and athletic facility. This legislation is structured to allow the district to handle the necessary funding for significant school improvements while ensuring the infrastructure meets current educational standards and community needs.

Contention

One contentious aspect of Bill S1073 is the requirement for voter approval of the bond issuance, which will be placed on the ballot for the general election set for November 7, 2023. This stipulation raises questions about community support and the financial implications for taxpayers in the member towns. While proponents argue that investing in education infrastructure will ultimately lead to economic growth and enhanced community appeal, opponents may highlight concerns about increased local taxation and the potential long-term financial commitments associated with the bonds.

Companion Bills

No companion bills found.

Previously Filed As

RI H8548

Removes the towns of Warren and Bristol from school bus district Region III and place Warren and Bristol in school bus district Region V.

RI S0443

Increases the maximum amount of the Kingston water district bonding authority from four million dollars ($4,000,000) to fifteen million dollars ($15,000,000).

RI H5703

Increases the maximum amount of the Kingston water district bonding authority from four million dollars ($4,000,000) to fifteen million dollars ($15,000,000).

RI S02165

Provides that if the net balance of the reimbursement account exceeds two million five hundred thousand dollars, any amount over two million five hundred thousand dollars shall be transferred to the proprietary vocational school supervision account.

RI A02235

Provides that if the net balance of the reimbursement account exceeds two million five hundred thousand dollars, any amount over two million five hundred thousand dollars shall be transferred to the proprietary vocational school supervision account.

RI SB2257

Grading of theft offenses of values not exceeding five hundred dollars; and to provide a penalty.

RI H6257

Provides for an additional real estate conveyance tax for commercial properties sold in excess of one million five hundred thousand dollars ($1,500,000) at a rate of three dollars and thirteen cents ($3.13) for each five hundred dollars.

RI A02137

Increases the total amount of bonds the Buffalo sewer authority may issue from two hundred fifty million to five hundred million dollars.

RI S2813

Submits the state's 2026 capital development program requesting the issuance of general obligation bonds totaling one hundred million dollars ($100,000,000) for approval of the electorate at the general election to be held in November, 2026.

RI S07028

Authorizes the city of Little Falls, in the county of Herkimer, to issue serial bonds in an aggregate principal amount not to exceed three million four hundred thousand dollars for the purpose of liquidating deficits in its general, golf, and water funds; requires that the city of Little Falls prepare quarterly budget reports, quarterly trial balances and a three-year financial plan.

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