§ 45-38.1-1. Declaration of policy.
It is declared that for the benefit of the people of the state of Rhode Island, the increase of their commerce, welfare, and prosperity and the improvement of their health and living conditions, it is essential that this and future generations of youth be given the fullest opportunity to learn and to develop their intellectual, physical and mental capacities; that it is essential that institutions for higher education within the state be provided with appropriate additional means to assist youth in achieving the required levels of learning and development of their intellectual, physical and mental capacities; that it is essential that municipalities within the state be provided with appropriate additional means to improve the health, living conditions, and welfare of their residents with expanded access to public educational or public recreational facilities; that it is essential that healthcare providers within the state be provided with appropriate additional facilities; and that it is the purpose of this chapter to provide a measure of assistance and an alternative method to enable institutions for higher education in the state, municipalities in the state, child daycare providers within the state, and healthcare providers to provide the facilities and structures which are sorely needed to accomplish the purposes of this chapter, and to provide a measure of assistance and an alternative method to enable students and the families of students attending institutions for higher education in the state to finance the cost or a portion of the cost of that higher education, all to the public benefit and good, to the extent and manner provided in this chapter. It is further declared that the exercise by the Rhode Island health and educational building corporation, created and established under § 45-38.1-4, of the powers conferred on the corporation, under this chapter, will constitute the performance of an essential governmental function.
History of Section.P.L. 1967, ch. 56, § 1; P.L. 1968, ch. 224, § 2; P.L. 1982, ch. 301, § 1; P.L. 1991, ch. 292, § 1; P.L. 2022, ch. 227, § 1, effective June 27, 2022; P.L. 2022, ch. 228, § 1, effective June 27, 2022.
Structure Rhode Island General Laws
Chapter 45-38.1 - Health and Educational Building Corporation
Section 45-38.1-1. - Declaration of policy.
Section 45-38.1-2. - Title of chapter.
Section 45-38.1-3. - Definitions.
Section 45-38.1-4. - Corporation established.
Section 45-38.1-5. - General grant of powers.
Section 45-38.1-5.1. - Powers relative to education loan financing programs.
Section 45-38.1-5.2. - Acquisition of certain monies, endowments, properties, and guarantees.
Section 45-38.1-5.3. - Conveyance of loan funding deposit after payment of bonds.
Section 45-38.1-6. - Acquisition of property.
Section 45-38.1-7. - Title to project.
Section 45-38.1-8. - Notes of the corporation.
Section 45-38.1-9. - Bonds of the corporation.
Section 45-38.1-10. - Trust agreement.
Section 45-38.1-11. - Revenues.
Section 45-38.1-12. - Trust funds.
Section 45-38.1-13. - Remedies.
Section 45-38.1-14. - Exemption from taxation.
Section 45-38.1-15. - Revenue refunding bonds.
Section 45-38.1-16. - Bonds eligible for investment.
Section 45-38.1-17. - Annual report and audit.
Section 45-38.1-18. - Source of payment of expenses.
Section 45-38.1-19. - State not liable.
Section 45-38.1-20. - Procedure before issuance of bonds or notes.
Section 45-38.1-21. - Agreement of the state.
Section 45-38.1-22. - Chapter cumulative — No notice required.
Section 45-38.1-23. - Chapter liberally construed.
Section 45-38.1-24. - Severability.
Section 45-38.1-25. - Institution for higher education powers.
Section 45-38.1-26. - Transfer of fund balances.
Section 45-38.1-27. - Development of Narragansett Brewery site.