AN ACT AUTHORIZING THE CITY OF CRANSTON TO ISSUE NOT TO EXCEED $25,000,000 GENERAL OBLIGATION BONDS, NOTES AND OTHER EVIDENCES OF INDEBTEDNESS TO FINANCE THE PURCHASE AND/OR ACQUISITION OF LAND AND BUILDINGS, CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, LANDSCAPING, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES THROUGHOUT THE CITY

Summary

The law lets the city sell general‑obligation bonds, notes or similar debt to raise money for buying land, building, renovating, and equipping schools. Proceeds must be used only for those school projects, and the city must meet state‑aid requirements before issuing bonds. Voters will decide in a citywide election whether the authority is approved.

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