Rhode Island will back loans for the construction of a replica three-masted sailing ship designed to serve as an ocean-going classroom.
A private non-profit group is raising funds to build the $6.6 million replica of an early 19th century vessel. It's to be named the Oliver Hazard Perry in honor of the War of 1812 naval hero. The group says it will be a teaching tool for high school and college students learning history, oceanography or shipbuilding.
Gov. Lincoln Chafee has signed legislation allowing the state to guarantee loans for the ship, set to be completed in 2013.
The state won't contribute funds, but would be responsible for repaying construction loans if the organization defaults.
Supporters of state involvement say the ship will provide unique educational opportunities and showcase Rhode Island's maritime tradition.
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