Portsmouth voters decide whether town may borrow for school work

The law authorizes Portsmouth to issue up to $41 million in bonds or notes for school projects. The borrowing may pay for building, improving, repairing, furnishing, and equipping Portsmouth schools and school facilities, along with related costs. The bonds may not be issued unless the state aid condition in Section 2 is met. State housing aid reimbursement for the projects is available only if the Rhode Island Department of Education approves them. The borrowing authority takes effect only if a majority of voters approve the question at the November 3, 2026 general election or a special election set by the town council.

The town must provide for yearly payments on bonds and notes issued under the act. This applies to bonds and notes issued under the act and to taxable property in Portsmouth. The town must appropriate enough to cover principal and interest due that year when other money does not cover it. If the town does not appropriate the needed amount, it is added to the annual tax levy on taxable property in Portsmouth. The payment duty applies each year that principal or interest on issued bonds or notes comes due.