From the annual Town report of 1996.

Special Town meeting, January 23, 1996, article 6, pages 99, 100, 101.

Motion:
           To see if the Town will approve the district's debt authorization of $20,603,250.00.

. . . .provided that no bonds or notes shall be issued unless the Town has voted at an election pursuant to chapter 49, section 21 C (k) of the general laws to exempt the principal and interest costs thereon from the provision of proposition 2 1/2, so called, and further proved that the Narragansett regional school district has the right to proceed once the Massachusetts department of education has acknowledged the completed project application and the NRSD has been placed on the FY'97 priority project lists of the commonwealth, or to take any other action relative thereto.

It is stated the objective is to have a facility for an additional 550 student capacity and to raise this appropriation the Town's treasurer with the approval of the selectmen is authorized to borrow (not to exceed said amount) for both long and short term purposes.

Interesting reading in my opinion.


posted by Jeff Bennett