Rhode Island § 16-3-17 § 16-3-17. Capital outlay debt limitation.

Rhode Island Statutes

§ 16-3-17 — § 16-3-17. Capital outlay debt limitation.

Rhode Island·Title 16 Education·Ch. 16-3 Establishment of Regional School Districts [See Title 16 Chapter 97 â€” The Rhode Island Board of Education Act]

§ 16-3-17. Capital outlay debt limitation.
The regional school district financial meeting or regional representatives under the
            provisions of § 16-3-14 shall be subject to the statutory debt limit for incurring debt for capital outlay
            purposes in those regional school districts embracing all the educational functions
            of the area to ten percent (10%) of the full valuation of the taxable real property
            within the district as determined by the department of administration. If this results
            in increasing the debt requirements over the debt limits of any town or city which
            represents less than half (Â½) of the true valuation of the regional school district

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§ 16-3-17. Capital outlay debt limitation.

The regional school district financial meeting or regional representatives under the provisions of § 16-3-14 shall be subject to the statutory debt limit for incurring debt for capital outlay purposes in those regional school districts embracing all the educational functions of the area to ten percent (10%) of the full valuation of the taxable real property within the district as determined by the department of administration. If this results in increasing the debt requirements over the debt limits of any town or city which represents less than half (Â½) of the true valuation of the regional school district, this shall not be considered as a violation of the debt limit in the town or city.

Rhode Island § 16-3-17 (§ 16-3-17. Capital outlay debt limitation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.