§ 37-22-7 Comprehensive agreement. –(a) Prior to developing, improving, constructing, maintaining, and/or operatinga qualifying project, the private entity shall enter into a comprehensiveagreement with the board. The comprehensive agreement shall establish:
(1) A specific narrative and description of the qualifyingproject, including consistency with the plan and identification of thosecomponents of the project which result in the direct improvement to publiceducation, public services and infrastructure;
(2) The terms of sale, lease, or public-private initiative. Apublic-private initiative shall establish user fees. User fees shall be set ata level that takes into account: (i) fair market rental value of the realproperty; (ii) the improvements of or the benefits directly resulting to publiceducation, public services and infrastructure from the qualifying project;(iii) payments in lieu of taxes and/or payments under the host communityagreement subject to approval by the Providence City Council; and (iv) theservices to be provided by and through the board. All such revenues shall bedeposited in the Intermodal Surface Transportation Fund, as defined in §35-4-11, to be used for activities eligible for funding under title 23(Highways) – United States Code;
(3) The comprehensive agreement shall address payment in lieuof taxes, or a host community agreement subject to approval by the City Councilof the City of Providence. All such revenues may be pledged by the City ofProvidence pursuant to § 45-33.2-1 et seq.;
(4) Reimbursement to be paid to the board for expensesincurred and services provided by the board;
(5) With regard to a public-private initiative, thecomprehensive agreement shall also address:
(i) The duties of the private entity under this chapter andmay contain any other terms and conditions consistent with this chapter.Without limitation, the comprehensive agreement may contain provisions underwhich the board agrees to collateral assignment provisions, notice of defaultprovisions, and cure rights for the benefit of the private entity and thepersons specified therein as providing financing for the qualifying project;
(ii) The schedule for completion of the qualifying project;
(iii) Delivery of performance and payment bonds in connectionwith the construction of, or improvements to, the qualifying project, in theforms and amounts satisfactory to the board;
(iv) The review of plans and specifications for thequalifying project;
(v) The inspection of construction of, or improvements to,the qualifying project to ensure conformance with the approved engineeringstandards;
(vi) The maintenance of a policy or policies of publicliability insurance (copies of which shall be filed with the board accompaniedby proofs of coverage), self-insurance, in form and amount satisfactory to theboard and reasonably sufficient to insure coverage of tort liability to thepublic and to enable the continued operation of the qualifying project;
(vii) Monitoring of the maintenance practices of the privateentity by the board and the taking of any actions that the board findsappropriate to ensure that the qualifying project is properly maintained;
(viii) Filing of appropriate financial statements on aperiodic basis; and
(ix) The date of termination of the private entity'sauthority and duties under this chapter and dedication to the appropriatepublic entity.
(b) Any changes in the terms of the comprehensive agreement,as may be agreed upon by the parties from time to time, shall be added to thecomprehensive agreement by written amendment.
(c) Each comprehensive agreement may provide for stateindemnification of the contracting party for design and construction liabilitywhere the state has approved relevant design and construction plans.
§ 37-22-7 Comprehensive agreement. –(a) Prior to developing, improving, constructing, maintaining, and/or operatinga qualifying project, the private entity shall enter into a comprehensiveagreement with the board. The comprehensive agreement shall establish:
(1) A specific narrative and description of the qualifyingproject, including consistency with the plan and identification of thosecomponents of the project which result in the direct improvement to publiceducation, public services and infrastructure;
(2) The terms of sale, lease, or public-private initiative. Apublic-private initiative shall establish user fees. User fees shall be set ata level that takes into account: (i) fair market rental value of the realproperty; (ii) the improvements of or the benefits directly resulting to publiceducation, public services and infrastructure from the qualifying project;(iii) payments in lieu of taxes and/or payments under the host communityagreement subject to approval by the Providence City Council; and (iv) theservices to be provided by and through the board. All such revenues shall bedeposited in the Intermodal Surface Transportation Fund, as defined in §35-4-11, to be used for activities eligible for funding under title 23(Highways) – United States Code;
(3) The comprehensive agreement shall address payment in lieuof taxes, or a host community agreement subject to approval by the City Councilof the City of Providence. All such revenues may be pledged by the City ofProvidence pursuant to § 45-33.2-1 et seq.;
(4) Reimbursement to be paid to the board for expensesincurred and services provided by the board;
(5) With regard to a public-private initiative, thecomprehensive agreement shall also address:
(i) The duties of the private entity under this chapter andmay contain any other terms and conditions consistent with this chapter.Without limitation, the comprehensive agreement may contain provisions underwhich the board agrees to collateral assignment provisions, notice of defaultprovisions, and cure rights for the benefit of the private entity and thepersons specified therein as providing financing for the qualifying project;
(ii) The schedule for completion of the qualifying project;
(iii) Delivery of performance and payment bonds in connectionwith the construction of, or improvements to, the qualifying project, in theforms and amounts satisfactory to the board;
(iv) The review of plans and specifications for thequalifying project;
(v) The inspection of construction of, or improvements to,the qualifying project to ensure conformance with the approved engineeringstandards;
(vi) The maintenance of a policy or policies of publicliability insurance (copies of which shall be filed with the board accompaniedby proofs of coverage), self-insurance, in form and amount satisfactory to theboard and reasonably sufficient to insure coverage of tort liability to thepublic and to enable the continued operation of the qualifying project;
(vii) Monitoring of the maintenance practices of the privateentity by the board and the taking of any actions that the board findsappropriate to ensure that the qualifying project is properly maintained;
(viii) Filing of appropriate financial statements on aperiodic basis; and
(ix) The date of termination of the private entity'sauthority and duties under this chapter and dedication to the appropriatepublic entity.
(b) Any changes in the terms of the comprehensive agreement,as may be agreed upon by the parties from time to time, shall be added to thecomprehensive agreement by written amendment.
(c) Each comprehensive agreement may provide for stateindemnification of the contracting party for design and construction liabilitywhere the state has approved relevant design and construction plans.
§ 37-22-7 Comprehensive agreement. –(a) Prior to developing, improving, constructing, maintaining, and/or operatinga qualifying project, the private entity shall enter into a comprehensiveagreement with the board. The comprehensive agreement shall establish:
(1) A specific narrative and description of the qualifyingproject, including consistency with the plan and identification of thosecomponents of the project which result in the direct improvement to publiceducation, public services and infrastructure;
(2) The terms of sale, lease, or public-private initiative. Apublic-private initiative shall establish user fees. User fees shall be set ata level that takes into account: (i) fair market rental value of the realproperty; (ii) the improvements of or the benefits directly resulting to publiceducation, public services and infrastructure from the qualifying project;(iii) payments in lieu of taxes and/or payments under the host communityagreement subject to approval by the Providence City Council; and (iv) theservices to be provided by and through the board. All such revenues shall bedeposited in the Intermodal Surface Transportation Fund, as defined in §35-4-11, to be used for activities eligible for funding under title 23(Highways) – United States Code;
(3) The comprehensive agreement shall address payment in lieuof taxes, or a host community agreement subject to approval by the City Councilof the City of Providence. All such revenues may be pledged by the City ofProvidence pursuant to § 45-33.2-1 et seq.;
(4) Reimbursement to be paid to the board for expensesincurred and services provided by the board;
(5) With regard to a public-private initiative, thecomprehensive agreement shall also address:
(i) The duties of the private entity under this chapter andmay contain any other terms and conditions consistent with this chapter.Without limitation, the comprehensive agreement may contain provisions underwhich the board agrees to collateral assignment provisions, notice of defaultprovisions, and cure rights for the benefit of the private entity and thepersons specified therein as providing financing for the qualifying project;
(ii) The schedule for completion of the qualifying project;
(iii) Delivery of performance and payment bonds in connectionwith the construction of, or improvements to, the qualifying project, in theforms and amounts satisfactory to the board;
(iv) The review of plans and specifications for thequalifying project;
(v) The inspection of construction of, or improvements to,the qualifying project to ensure conformance with the approved engineeringstandards;
(vi) The maintenance of a policy or policies of publicliability insurance (copies of which shall be filed with the board accompaniedby proofs of coverage), self-insurance, in form and amount satisfactory to theboard and reasonably sufficient to insure coverage of tort liability to thepublic and to enable the continued operation of the qualifying project;
(vii) Monitoring of the maintenance practices of the privateentity by the board and the taking of any actions that the board findsappropriate to ensure that the qualifying project is properly maintained;
(viii) Filing of appropriate financial statements on aperiodic basis; and
(ix) The date of termination of the private entity'sauthority and duties under this chapter and dedication to the appropriatepublic entity.
(b) Any changes in the terms of the comprehensive agreement,as may be agreed upon by the parties from time to time, shall be added to thecomprehensive agreement by written amendment.
(c) Each comprehensive agreement may provide for stateindemnification of the contracting party for design and construction liabilitywhere the state has approved relevant design and construction plans.
