Pawtucket voters decide whether city may borrow up to $2 million

Pawtucket may issue up to $2 million in bonds and notes for street and sidewalk work. The city may use the money to design, build, rebuild, repair, and equip streets and sidewalks, including drainage and landscaping. The money may also cover related project and borrowing costs. The act’s main provisions take effect only if a majority of voters voting on the question approve it. The main provisions take effect after a majority of voters voting on the question approve the act. Bond payments must begin within three years and finish within 30 years of each bond’s date.

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. If other money does not cover the amount due, the city must add the shortfall to its annual tax levy. Taxable property in the city is subject to property taxes without a rate or amount limit to provide for these payments. The city must provide for principal and interest due each year.