Rhode Island General Laws 46-12.2-17. No additional consent required
Except as provided in this section, bonds and local governmental obligations, and non-governmental obligations may be issued under this chapter or chapter 18 of Title 24 without obtaining the consent of any executive office, department, division, commission, board, bureau, or agency of the state or any political subdivision thereof, and without any other proceedings or the happening of any condition, or acts other than those proceedings, conditions, or acts which are specifically required therefor hereunder or under any applicable bond act, and the validity of and security for any bonds issued by the agency pursuant to this chapter or chapter 18 of Title 24, and any local governmental obligations, and non-governmental obligations issued in accordance herewith, shall not be affected by the existence or nonexistence of any consent or other proceedings, conditions, or acts. Nothing in this chapter or chapter 18 of Title 24 shall exempt the agency from the provisions of chapter 10.1 of Title 42 entitled “Public Finance Management Board,” and the Narragansett Bay commission shall not issue any bonds, notes, or other indebtedness without the approval of the division of public utilities as required by § 39-3-15.
History of Section.
P.L. 1989, ch. 303, § 2; P.L. 2013, ch. 144, art. 20, § 2; P.L. 2015, ch. 141, art. 14, § 17.
Terms Used In Rhode Island General Laws 46-12.2-17
- Agency: means the Rhode Island clean water finance agency, and, effective September 1, 2015, and thereafter, shall mean the Rhode Island infrastructure bank;
(2) "Approved project" means any project or portion thereof that has been issued a certificate of approval by the department for financial assistance from the agency, and also includes any project approved for financial assistance from the agency in accordance with state law, and, furthermore, shall include water pollution abatement projects funded outside of the water pollution control revolving fund, the Rhode Island water pollution control revolving fund, or the local interest subsidy trust fund, without the requirement of the issuance of a certificate of approval; and, furthermore, shall include resiliency related infrastructure projects, and projects which may, subject to compliance with all state and federal requirements, include state and federal infrastructure located within the state of Rhode Island;
(3) "Board" means the board of directors of the agency;
(4) "Bond act" means any general or special law authorizing a local governmental unit to incur indebtedness for all or any part of the cost of projects coming within the scope of a water pollution abatement project, or for other projects related to this chapter, including but not limited to, § 45-12-2;
(5) "Bonds" means bonds, notes, or other evidence of indebtedness of the agency;
(6) "Certificate of approval" means the certificate of approval contemplated by Rhode Island General Laws 46-12.2-2
- Department: means the department of environmental management;
(12) "Financial assistance" means any form of financial assistance provided by the agency to a local governmental unit, person, or corporation in accordance with this chapter for all or any part of the cost of an approved project, including, without limitation: grants, temporary and permanent loans, with or without interest, guarantees, insurance, subsidies for the payment of debt service on loans, lines of credit, and similar forms of financial assistance; provided, however, notwithstanding the foregoing, for purposes of capitalization grant awards made available to the agency, pursuant to the American Recovery and Reinvestment Act of 2009 (Pub. See Rhode Island General Laws 46-12.2-2
- Non-governmental obligations: means bonds, notes, or other evidences of indebtedness in fully marketable form issued by a person or corporation to evidence a loan, or other financial assistance, from the agency in accordance with this chapter or otherwise as provided herein;
(22) "Person" means any natural person;
(23) "Priority determination system" means the system by which water pollution abatement projects are rated on the basis of environmental benefit and other criteria for funding assistance pursuant to rules and regulations promulgated by the department as they may be amended from time to time;
(24) "Projected energy efficiency savings" means, at the time a loan agreement is entered into between the agency and a local governmental unit, the savings projected to be derived from the implementation of energy efficient and renewable-energy upgrades to public buildings, as determined in accordance with the rules and regulations promulgated by the Rhode Island infrastructure bank pursuant to this chapter;
(25) "Qualified energy conservation bond" or "QECB" means those bonds designated by 26 U. See Rhode Island General Laws 46-12.2-2