Pawtucket’s borrowing authority for sewer work takes effect only if a majority of voters who vote on the question approve it.
Pawtucket may borrow up to $4 million for sanitary and storm sewer work, but that authority takes effect only if a majority of voters who vote on the question approve.
If other money does not cover yearly payments on the authorized debt, Pawtucket must add the unpaid amount to its tax levy; city property may be taxed without a rate or amount limit.
If voters approve, Pawtucket may issue up to $4 million in bonds and notes for sewer work. The money may pay for planning, designing, building, equipping, and rebuilding sanitary and storm sewers in Pawtucket, plus related costs. The city council sets the amounts and terms of bond issues. Voters consider the question at the next general election, or at an earlier special citywide or state election if the mayor directs. The borrowing authority takes effect after voter approval.
Pawtucket must provide for yearly payments on bonds and notes issued under this law. This applies to principal and interest due each year on bonds and notes issued under this law. The city must appropriate enough money for payments not covered by other funds. If it does not, the unpaid amount is added to the annual tax levy, and taxable property in the city is subject to property taxes without a rate or amount limit. The payment duty applies each year that principal or interest comes due.
No hearings or votes scheduled.