The City Council meets in the Council Chamber on Friday, June 4, 2004, and is called to order at 4:40 p.m. by Mayor Rolland R. Grant.

Acting Mayor Norman J. Miranda calls the meeting to order at 4:45 p.m. 

ORDINANCES - FINAL PASSAGE (Given First Passage May 4, 2004)

Advertised - Providence Journal May 28, 2004

AN ORDINANCE APPROPRIATING $4,500,000 TO FINANCE THE PLANNING, CONSTRUCTION AND RECONSTRUCTION OF STREETS AND/OR SIDEWALKS  WITHIN THE CITY AND CONSTRUCTION OF A NEW LIBRARY IN THE RIVERSIDE SECTION OF THE CITY AND AUTHORIZING BONDS OR NOTES TO FINANCE SAME.

WHEREAS, Chapter 270 and Chapter 343 of the Public Laws of Rhode Island 2002 authorize the issue of $4,500,000 bonds and notes in anticipation thereof by the City of East Providence to finance the planning, construction and reconstruction of streets and/or sidewalks within the city and construction of a new library in the Riverside section of the City (hereinafter referred to as the "Project"); and

WHEREAS, said Chapters were duly approved by a majority of those voting on the question at a general election held November 5, 2002 said election having been called and held and the question prescribed by Section 12 of said Chapters presented in accordance with law, and said Chapters are presently in full force and effect; and

WHEREAS, $2,700,000 in bond anticipation notes have previously been issued pursuant to such authority (the "Notes"); and

WHEREAS, the Project is a capital project for public improvements needed by the city;

THE COUNCIL OF THE CITY OF EAST PROVIDENCE HEREBY ORDAINS:

SECTION I.  The sum of $4,500,000 is hereby appropriated for the purpose of the Project.

SECTION II.  The issue of $4,500,000 bonds or notes in anticipation thereof to meet the foregoing appropriation is hereby authorized pursuant to Chapter 270 and Chapter 343 of the Public Laws of Rhode Island, 2002 and the City Charter.  The City Council shall determine by resolution the time or times and manner at and in which said bonds or notes in anticipation of such bonds shall be issued and sold and the officers issuing the bonds or notes shall determine the form of the bonds or notes in accordance with law.

SECTION III.  The estimated maximum cost of the Project, including retirement of the Notes at the maturity thereof, is $4,500,000 and any unexpended sum from said appropriation shall be used for either the retirement of said bonds or notes issued inanticipation thereof or for the payment of interest thereon.  Prior to issuance of said bonds or notes in anticipation thereof, funds may be advanced from the city=s general fund for Project costs.

There is no one from the public wishing to be heard.

On motion of Councilman Harrington, seconded by Councilman Miranda, and on a roll call vote, it is unanimously voted to approve for Final Passage.  It is noted for the record that Mayor Grant and Councilman Rogers are absent.

AN ORDINANCE APPROPRIATING $4,500,000 TO FINANCE THE CITY OF EAST PROVIDENCE TO FINANCE THE FOLLOWING PROJECTS IN THE CITY:  REPAIRS TO THE LOOFF CAROUSEL, UPGRADE OF THE WATCHEMOKET STORM DRAIN; REPAIRS AND RENOVATIONS TO THE POLICE STATION; FEASIBILITY STUDY AND PRELIMINARY PLANNING FOR A NEW FIRE STATION; WATERFRONT DEVELOPMENT; SOCCER FIELD AND OTHER RECREATIONAL FACILITY DEVELOPMENT; WARREN AVENUE STREET SCAPE; THE ACQUISITION OF PROPERTY; AND REPAIRS AND IMPROVEMENTS TO THE STORM DRAINAGE AND SANITARY SEWER SYSTEMS AND AUTHORIZING $4,500,000 BONDS OR NOTES TO FINANCE SAME

WHEREAS, Chapter 273 and Chapter 349 of the Public Laws of Rhode Island 2002 authorize the issue of $4,500,000 bonds and notes in anticipation thereof by the City of East Providence to finance the following projects in the City:  Repairs to the Looff Carousel, Upgrade of the Watchemoket Storm Drain; Repairs and Renovations to the Police Station; Feasibility Study and Preliminary Planning for a New Fire Station; Waterfront Development; Soccer Field and Other Recreational Facility Development; Warren Avenue Street Scape; the Acquisition of Property; and Repairs and Improvements to the Storm Drainage and Sanitary Sewer Systems (hereinafter referred to as the "Project"); and

WHEREAS, said Chapters were duly approved by a majority of those voting on the question at a special election held November 5, 2002 said election having been called and held and the question prescribed by Section 12 of said Chapters presented in accordance with law, and said Chapters are presently in full force and effect; and

WHEREAS, $2,300,000 in bond anticipation notes have previously been issued pursuant to this authority (the "Notes"); and

WHEREAS, the Project is a capital project for public improvements needed by the city;

THE COUNCIL OF THE CITY OF EAST PROVIDENCE HEREBY ORDAINS:

SECTION I.  The sum of $4,500,000 is hereby appropriated for the purpose of the Project including retirement of the Notes at the maturity thereof.

SECTION II.  The issue of $4,500,000 bonds or notes in anticipation thereof to meet the foregoing appropriation is hereby authorized pursuant to Chapter 273 and Chapter 349 of the Public Laws of Rhode Island, 2002 and the City Charter.  The City Council shall determine by resolution the time or times and manner at and in which said bonds or notes in anticipation of such bonds shall be issued and sold and the officers issuing the bonds or notes shall determine the form of the bonds or notes in accordance with law.

SECTION III.  The estimated maximum cost of the Project is $4,500,000 and any unexpended sum from said appropriation shall be used for either the retirement of said bonds or notes issued in anticipation thereof or for the payment of interest thereon.  Prior to issuance of said bonds or notes in anticipation thereof, funds may be advanced from the city=s general fund for Project costs.

There is no one from the public wishing to be heard.

On motion of Councilman Ramos, seconded by Councilman Harrington, and on a roll call vote, it is unanimously voted to approve for Final Passage.  It is noted for the record that Mayor Grant and Councilman Rogers are absent.

Attest:

Valerie A. Perry, CMC

City Clerk