Rhode Island General Laws Title 45. Towns and Cities § 45-38.1-27. Development of Narragansett Brewery site

(a) Notwithstanding any provision of this chapter or any general law or special law to the contrary, it is a corporate purpose of the corporation to finance the development of the site of the former Narragansett Brewery in the city of Cranston as a multi-purpose facility to be used as a center for economic development, biotechnology research, education, health care, governmental, and other similar uses. For purposes of this section the definition of the word “project” as provided in § 45-38.1-3(18) includes structures and facilities suitable for use by institutions for higher education, health care facilities, governmental entities, and private non-profit users, including, but not limited to, uses as administration buildings, offices, libraries, laboratories, research facilities, classrooms, athletic facilities, maintenance, storage or utility facilities, and other structures or facilities related to the project or required or useful for the operation of the project, including parking and other facilities or structure essential or convenient for the orderly operation of the project, and also includes equipment and machinery and other similar items necessary or convenient for the operation of the project and the manner for which its use is intended.

(b) For purposes of this section and for purposes of the development of the project, wherever the terms “participating institution for higher education”, “participating hospital”, or “participating health care provider” appear in this chapter, those terms mean and include the board of governors for higher education of the state or any one or more public bodies, natural persons, firms, associations, corporations and business trusts designated by the board of governors. Bonds issued for the project are not subject to the requirements of § 45-38.1-20 and shall not exceed twenty-five million dollars ($25,000,000). Repayment of the bonds is limited to revenue and income generated by the project.