AN ACT AUTHORIZING THE CITY OF PROVIDENCE TO ISSUE NOT TO EXCEED $25,000,000 GENERAL OBLIGATION BONDS AND NOTES TO FUND THE PROVIDENCE HOUSING TRUST FUND TO FINANCE AFFORDABLE MULTI-FAMILY HOUSING PROJECTS IN THE CITY

Summary

The law authorizes the City of Providence to sell general‑obligation bonds and notes not exceeding $25 million to finance its Housing Trust Fund. Proceeds must be spent on affordable multi‑family housing, repayment of temporary notes, issuance costs, and related expenses. This creates a new financing source for the city’s affordable‑housing efforts.

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