Rhode Island H7491 authorizes Providence to issue up to $25,000,000 in bonds and notes to fund affordable multi-family housing projects.

Rhode Island H7491 allows the City of Providence to issue up to $25,000,000 in general obligation bonds and notes to finance affordable multi-family housing projects. The proceeds will fund the Providence Housing Trust Fund. The city treasurer and mayor can execute necessary documents to carry out the act's intent. The bonds can be issued in various forms, including zero coupon, capital appreciation, serial, or term bonds. The city council can authorize the issuance of notes in anticipation of bond issuance or federal/state aid.

Rhode Island H7491 authorizes Providence to issue up to $25,000,000 in bonds and notes to fund affordable multi-family housing projects.

Rhode Island H7491 allows the City of Providence to issue up to $25,000,000 in general obligation bonds and notes to finance affordable multi-family housing projects. The proceeds will fund the Providence Housing Trust Fund. The city treasurer and mayor can execute necessary documents to carry out the act's intent. The bonds can be issued in various forms, including zero coupon, capital appreciation, serial, or term bonds. The city council can authorize the issuance of notes in anticipation of bond issuance or federal/state aid.