Cranston voters decide whether the city can borrow $4 million

The law authorizes Cranston to issue up to $4 million in bonds and temporary notes for recreation projects and related costs. The projects must involve playgrounds, athletic fields, or related equipment in Cranston. Bond proceeds may pay for the projects, certain temporary notes or advances, borrowing costs, and interest during construction. This financing authority takes effect only after a majority of voters approve the measure at the election required by the law.

The city must provide for yearly payments on bonds and notes issued under the law; any shortfall is added to the annual tax levy. This applies to bonds and notes issued under the law. All taxable property in Cranston may be taxed without a limit on the rate or amount to provide the needed payments. The city must provide for principal and interest payments each year they come due.