§ 42-64-7.4 - Water supply facilities.
SECTION 42-64-7.4
§ 42-64-7.4 Water supply facilities.– (a) The Rhode Island economic development corporation is authorized andempowered to acquire and construct water supply facilities; to maintain,repair, and operate those facilities; and to issue revenue bonds of thecorporation payable solely from revenues derived from the leasing of thosewater supply facilities to finance them. Development of these projects may beinitiated by the corporation upon request of a municipality or municipalitiesseeking to undertake the project either singly or jointly.
(b) Without limiting the generality of the foregoing, thecorporation is expressly empowered to lease or sell water supply facilities orany part of those facilities to any municipality. A lease by the corporation toany municipality may be for any period, upon any terms and conditions, with orwithout an option to purchase, as the corporation may determine.
(c) The provisions of any other laws or ordinances, general,special, or local, or of any rule or regulation of the state or anymunicipality, restricting or regulating in any manner the power of anymunicipality to lease, as lessee or lessor, or sell property real, personal, ormixed, shall not apply to leases and sales made with authority pursuant to thissection; and insofar as the provisions of this section are inconsistent withthe other laws of this state, general, special, or local, restricting the powerof any municipality to enter into a lease or to sell property, the provisionsof this section shall be controlling.
(d) Any municipality, notwithstanding any contrary provisionof law, is authorized and empowered to lease, lend, grant, or convey to thecorporation, at its request upon those terms and conditions that the properauthorities of a municipality may deem reasonable and fair and without thenecessity for any advertisement, order of court, or other action or formality,other than the regular and formal action of the authorities concerned, any realproperty or personal property which may be necessary or convenient toeffectuation of the authorized purposes of the corporation including realproperty already devoted to public use; and subject to the aforesaid, the state consents to the use of all lands owned by it, including land lying underwater, and which are deemed by the corporation to be necessary for theconstruction or operation of any water supply facilities.