Cranston may borrow up to $8 million for safety equipment

Cranston may issue up to $8 million in bonds and temporary notes for fire and public safety equipment. The money may pay for acquiring, improving, renovating, or repairing fire and public safety equipment in Cranston, along with related borrowing and issuance costs. A majority of Cranston voters must approve the question before the main authorization takes effect. Notes may be issued in anticipation of bonds or federal or state aid; notes based on aid cannot exceed the aid the finance director estimates is available. Voters will decide at the November 3, 2026 general election, or at a special city-wide election if the city council chooses one. The main authorization takes effect only after voter approval.

Cranston must provide for yearly payments on bonds and notes issued under this act. These payment rules apply to bonds and notes issued under this act. The city must appropriate enough to cover principal and interest due that year when other money does not cover it. If it does not appropriate the amount, the amount is added to the yearly tax levy, and taxable property in Cranston may be taxed without a rate or amount limit to provide it. The city must provide for principal and interest payments as they come due each year.