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SB 3322

AN ACT AUTHORIZING THE CITY OF PAWTUCKET TO PROVIDE FOR THE CONSTRUCTION, RENOVATION, IMPROVEMENT, REPAIR, ALTERATION, FURNISHING AND EQUIPPING OF PUBLIC BUILDINGS IN THE CITY AND AUTHORIZING THE FINANCING THEREOF, INCLUDING THE ISSUE OF NOT MORE THAN $5,000,000 BONDS AND NOTES THEREFOR, TO FUND THE CAPITAL IMPROVEMENT PROGRAM FOR THE TWO FISCAL YEARS 2028 AND 2029

2026 Regular Session Introduced by Meghan Kallman

Pawtucket may issue up to $5 million in bonds/notes to fund public-building improvements for 2028–2029, subject to voter approval and up to 30-year debt.

06/23/2026 Signed by Governor
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WeVote Research Nonpartisan
Bill Summary · SB 3322

Summary of SB 3322 (Rhode Island, 2026)

Purpose and Intent

  • Authorizes the City of Pawtucket to finance the construction, renovation, improvement, repair, alteration, furnishing, and equipping of public buildings in Pawtucket.
  • Allows the city to issue general obligation bonds and notes up to a total principal amount of not more than $5,000,000 to fund a capital improvement program for the two fiscal years 2028 and 2029.
  • Requires approval by Pawtucket voters at the next general election (with a provision for a special election if called).

Key Provisions and Changes

  • Section 1: Authority to issue up to $5,000,000 in bonds or notes, with flexibility in how bonds are structured (serial, term, or a combination). Debt would be payable over a range of up to 30 years.
  • Section 2: Details on how bonds are issued and sold (signatures, form, maturity, use of proceeds). Proceeds must be expended for the public buildings project and related costs (including issuance costs and funded or capitalized interest during construction).
  • Section 3: City council can issue temporary notes in anticipation of bonds or anticipated federal/state aid. Limits established for such notes and refunding provisions, including safeguarding against excessive temporary debt and maintaining a dedicated fund if refunding occurs.
  • Section 4: Allows the city treasurer to use general treasury funds temporarily for the purpose of the project, with repayment from bond proceeds or other eligible funds.
  • Section 5: Proceeds and interim funds may be invested or deposited per state/city investment rules, with FDIC-insured banks or U.S. government securities as permissible investments.
  • Section 6: Accrued interest from bond sales, bond premiums, and net investment earnings may be used to cover issuance costs, fund the project, pay debt service, or be treated as city revenues consistent with federal law; balance of proceeds applies to debt service if needed.
  • Section 7: Bonds/notes obligations are city debts but are not counted for the city’s general debt capacity calculations. Annual appropriation of debt service is required; if not appropriated, property tax may be increased to cover the obligation.
  • Section 8: Bond/note instruments remain valid even if certain city officers cease to hold office before delivery/payments.
  • Section 9: City council may apply for and expend federal/state grants or advances to support the project, with federal law prevailing in case of conflict.
  • Section 10: Bonds/notes may be issued without additional approvals beyond those required by the act; actions taken to implement the project must meet constitutional requirements, but bond validity is not dependent on those actions.
  • Section 11: City Treasurer and Mayor authorized to execute necessary documents to comply with tax and securities laws, including continuing disclosure under SEC Rule 15c2-12.
  • Section 12: Unissued bond/note authority can be extinguished by city council resolution after seven years.
  • Section 13: Requirement to put the question to Pawtucket voters at the next general election (or a referenced special election) with a specific ballot wording. Public availability of the act’s text in the clerk’s office is required from the time the election is warned.
  • Section 14: Effective date structure—Sections 13 and 14 take effect upon passage; the remainder takes effect upon voter approval.

Who or What Would Be Affected

  • The City of Pawtucket would gain authority to issue up to $5 million in general obligation debt to fund its public building capital projects for 2028–2029.
  • City finances and budgeting would be adjusted to accommodate debt service, potential property tax adjustments if annual debt service is not otherwise funded.
  • Public buildings in Pawtucket (and related facilities) would be the primary beneficiaries, through construction, renovation, and related costs.
  • City residents would vote on the approval of this debt authority in a municipal election.

Procedural and Timeline Considerations

  • Legislative path: Introduced May 26, 2026; referred to Senate Housing & Municipal Government.
  • Local approval: Final approval depends on a voter referendum at the next general election (with a mechanism for a special election if called earlier).
  • Duration: Debt authority up to 30-year maturities; the act contemplates capital improvements for 2028 and 2029 funded by these bonds/notes.
  • Sunset/extinguishment: Any unused bond/note authority can be extinguished after seven years unless extended by action.

Notes

  • The bill emphasizes that the city’sBond/Note proceeds, any applicable state/federal aid, and other related funds are appropriated for the stated purposes without further legislative action beyond this act.
  • The act seeks to align debt issuance with applicable federal securities laws and transparency requirements (continuing disclosure).

If you’d like, I can translate specific sections into plain-language FAQs or compare this proposal to Pawtucket’s current capital funding framework.

Compiled from official sources — confirm details with the bill’s official record.

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