Rhode Island General Laws 45-54-7. Exemption from taxation
The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the state and for the facilitation of the conduct of their public business, and as the acquisition, construction, operation, and maintenance by the corporation of the projects defined in this chapter will constitute the performance of essential governmental functions, the corporation is not required to pay any taxes or assessments upon the projects or upon any property acquired, or upon the income from the projects, or any other state or local tax of any kind or description, nor is the corporation required to pay any recording fee or transfer tax of any kind or description, and the bonds, issued under the provisions of this chapter, their transfer, and the income from them (including any profit made on the sale) at all time free from taxation by the state, or any political subdivision or other instrumentality of the state, excepting estate taxes, and the corporation shall pay property taxes and assessments on its properties located outside the boundaries of the city or town whose council established the corporation.
History of Section.
P.L. 1991, ch. 421, § 1.
Terms Used In Rhode Island General Laws 45-54-7
- Bonds: means any bonds, interim certificates, notes, debentures, or other evidences of indebtedness of the corporation issued pursuant to this chapter;
(2) "Construction" means and includes acquisitions, construction, repair, rehabilitation, development, and installation, and the term "to construct" means and includes, to acquire, to construct, to repair, to rehabilitate, to develop, and to install, all in a manner as may be deemed desirable;
(3) "Corporation" means the municipal detention facility corporation created under this chapter;
(4)(i) "Cost" as applied to any project to be constructed or acquired by the corporation, includes: the cost of acquisition or construction and, if the project consists of public facilities, the cost of acquisition of all land, rights-of-way, property, rights, easements, and interests acquired by the corporation for the construction; the cost of demolishing or removing any buildings or structures on land so acquired, including the cost of acquiring any lands to which the buildings or structures may be moved; the cost of all machinery and equipment; financing charges; interest prior to and during construction and for one year after completion of construction; the cost of estimates and planning, engineering and legal services, plans, specifications, and surveys; estimates of costs and of revenues; other expenses necessary or incident to determining the feasibility or practicability of the construction; administrative expenses; and other expenses as may be necessary or incident to the construction, the financing of the construction, and the placing of the project in operation. See Rhode Island General Laws 45-54-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Council: means the city or town council of a municipality;
(6) "Detention facility" means land, buildings, or improvements used for the purposes of detaining prisoners in accordance with the provisions of this chapter;
(7) "Director" means one of the members of the corporation appointed in accordance with the provisions of this chapter;
(8) "Federal agency" means and includes the United States of America, and any department of, or any corporation, agency, or instrumentality created, designated, or established by, the United States of America;
(9) "Improvement" means and includes extension, enlargement, and improvement, and the term "to improve" means and includes, to extend, to enlarge, and to improve, all in a manner as may be deemed desirable;
(10) "Municipality" means and includes any city or town within the state now existing or hereafter created;
(11) "Owner" means and includes all individuals, incorporated companies, copartnerships, societies, or associations, and, also, all municipalities and political subdivisions, and all public agencies and instrumentalities, having any title or interest in any property, rights, easements, or franchises authorized to be acquired under the provisions of this chapter;
(12) "Persons" means and includes natural persons, firms, associations, corporations, business trusts, partnerships, and public bodies;
(13) "Project" means any detention facility or public equipment which the corporation is authorized to construct, improve, equip, furnish, maintain, acquire, install, or operate under the provisions of this chapter, and includes all real and personal property related to it;
(14) "Public equipment" means and includes all tangible personal property, new or used, including, without limiting the generality of the preceding, all machinery, equipment, transportation equipment, maintenance equipment, construction equipment, sanitation equipment, police, fire, and public safety equipment, and all other things and rights usually included within that term, including any and all interests in property which are less than full title, as leasehold interests, security interests, and every other interest or right, legal or equitable; provided, that the public equipment is related to and used in connection with a detention facility; and
(15) "State" means and includes the state of Rhode Island, and any office, department, board, commission, bureau, division, authority, public corporation, agency, or instrumentality of the state. See Rhode Island General Laws 45-54-3
- town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9