Rhode Island General Laws Title 45. Towns and Cities § 45-37-5. Procedure before acquisition

(1) The acquisition and construction of the industrial facility will eliminate or prevent unemployment, either in whole or in part in the area in which the industrial facility is located;

(2) The industrial facility will consist of a building or buildings which are suitable for industrial, manufacturing, commercial, or warehousing purposes;

(3) The industrial facility will be leased to, or owned by, a financially responsible person or corporation;

(4) Adequate provision has been, or will be made, for the payment of the cost of the acquisition and construction of the industrial facility, and that under no circumstances will the state or municipality be obligated, directly or indirectly, for the payment of the principal of, or interest on, any obligations issued to finance the construction;

(5) Adequate provision has been, or will be made, in each lease relating to the industrial facility for the payment of all costs of operation, maintenance, and upkeep of the industrial facility by the lessee, sublessee, or occupant so that under no circumstances will the state or municipality be obligated, directly or indirectly, for the payment of those costs; and

(6) The acquisition and construction, proposed leasing, operation, and use of the industrial facility will aid in the development, growth, and prosperity of the state or municipality in which the industrial facility is located.