Pawtucket may borrow for bridge work if voters approve

The law authorizes Pawtucket to issue up to $2 million in bonds for bridge work and related costs. The authority applies to bridge construction, reconstruction, repairs, equipment, and related costs in Pawtucket. The city council decides the amounts and terms of any bond issues. The bond authority takes effect only if a majority of voters approve the act. The bond authority takes effect after voter approval at the election described in the act.

Pawtucket must provide for yearly payments on bonds and notes issued under the act. These payment and tax rules apply to Pawtucket bonds and notes issued under the act. The city must provide enough each year to pay principal and interest due, to the extent other money does not cover those payments. If the city does not appropriate that amount, it is added to the annual tax levy; taxable property may be taxed without a rate or amount limit to provide it. The payment requirement applies each year when principal or interest comes due.