The signed law lets Pawtucket borrow up to $2 million for street and sidewalk work only if a majority of voters approve it.
If Pawtucket voters approve the act, the city may issue up to $2 million in bonds for street and sidewalk work, including drainage and landscaping.
Pawtucket must provide for yearly payments on the bonds and notes. If it does not set aside enough money and other funds do not cover them, the unpaid amount goes on the property tax levy.
Pawtucket may issue up to $2 million in bonds to pay for street and sidewalk work. The work covers Pawtucket streets and sidewalks and may include drainage, landscaping, and related costs. The city council decides by resolution whether and how much to issue. The act’s main provisions take effect only if a majority of voters approve it at the required election. The authorization is for the city’s capital improvement program for fiscal years 2028 and 2029. The main provisions take effect only after voter approval.
Pawtucket must provide for yearly payments on bonds and notes issued under the act. These payment rules apply to bonds and notes issued under the act. The city must set aside enough money each year for principal and interest due, unless other money covers those payments. If the city does not set aside enough, the unpaid amount must be added to the yearly tax levy on taxable property, which may be taxed without a rate or amount limit for this purpose. The city must provide for principal and interest in each year they come due.
No hearings or votes scheduled.