Cranston voters would decide on $2 million for public buildings

Cranston could issue up to $2 million in bonds and temporary notes for public-building projects. The money could fund acquiring, demolishing, building, improving, renovating, repairing, changing, furnishing, and equipping public buildings in Cranston. The city council would authorize the bond issues and set their terms. Temporary notes issued before bonds could not exceed the authorized bond amount, except that refunding notes may temporarily reach twice that amount under the bill's rules. Bond and note proceeds, federal or state assistance, and other authorized funds would be limited to the listed projects and related financing costs. The bond and note authority would begin only if a majority of voters approves the question at the required election.

Cranston would have to pay the yearly principal and interest on bonds and notes, and unpaid amounts would be added to the city tax levy. The obligation would apply to all bonds and notes issued under this act and to taxable property in Cranston. The city would appropriate enough money each year to cover payments not paid from other sources. If the city does not appropriate enough, the required amount would still be added to the annual tax levy. The bill states that city taxable property would be subject to property taxes without a rate or amount limit for this purpose. The repayment and tax provisions would apply after the act takes effect and whenever principal or interest comes due.

Cranston would submit approval of the act to voters. The question would go to city electors at the November 3, 2026 general election or, if the city council chooses, at a later special citywide election. The bond and note provisions would take effect only if a majority of voters answering the question approves them. The election question would ask whether to approve the act authorizing up to $2 million in bonds and notes. The election and effective-date sections would take effect when the act passes; the rest would take effect only after voter approval.