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 act authorizes the city of Cranston to sell general‑obligation bonds and related notes, not exceeding $25 million, for purchasing land, constructing, renovating, and equipping school facilities. Bonds can be issued in several formats but only if the city meets required state‑aid conditions. Proceeds must be spent on the school projects, repayment of temporary notes, and related costs.

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