Header, the Administration of the Honorable Lincoln C. Almond
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1995

 		 
Executive Order 95-04
February 1, 1995


WHEREAS, the State of Rhode Island has tax supported debt outstanding which totals $1.8 billion; and

WHEREAS, approximatsly sixty two percent of this outstanding debt was not approved at referenda by the voters; and

WHEREAS, the relative level of the State's tax supported debt can impact the State's bond rating; and

WHEREAS, Section 35-18 of the Rhode Island General Laws relating to Public Corporation Debt- Management took effect on January 1, 1995; and

WHEREAS, the State's debt management policies must focus on the activities of all agencies and authorities which issue debt which could ultimately become the responsibility of the State.

NOW THEREFORE, I, Lincoln Almond, by the authority vested in me as Governor of the State of Rhode Island and Providence Plantations do hereby order as follows:

1. That the State Budget Office will review all debt issuances which require approval by the Governor; and

2. That the State Budget Office will advise the Governor of the direct and potential impact on the State's tax supported debt and its credit rating; and

3. That the State Budget Office shall coordinate with the Governor's Office and other agencies all certifications by the Governor required pursuant to Section 35-18 of the Rhode Island General Laws.

This Executive Order shall take effect immediately upon the date hereof.

So Ordered:


Lincoln Almond
Governor