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HB 8590

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 Karen Alzate and 3 co-sponsors

Allows Pawtucket to issue up to $5 million in bonds to fund public-building construction and improvements for 2028-2029, contingent on voter approval.

06/23/2026 Signed by Governor
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WeVote Research Nonpartisan
Bill Summary · HB 8590

Overview

HB 8590 (Rhode Island, 2026) would authorize the City of Pawtucket to finance a capital improvement program for public buildings through the issuance of general obligation bonds and notes not to exceed $5 million. The measure authorizes bonding authority, outlines financing parameters, and sets a voter-consented timeframe for the program for the 2028 and 2029 fiscal years.

Primary purpose and intent

  • To empower Pawtucket to fund construction-related activities for public buildings, including:
    • Construction, renovation, improvement, repair, alteration, furnishing, and equipping of public facilities.
  • To finance these activities via bonds and notes, with a maximum aggregate debt authority of $5,000,000.
  • To fund the Pawtucket capital improvement program specifically for the two fiscal years 2028 and 2029.
  • To obtain voter approval for the act, with the effective date contingent on a favorable election result.

Key provisions and changes

  • Debt authority: Up to $5,000,000 in general obligation bonds and notes may be issued by Pawtucket.
    • Bond types: Serial bonds, term bonds, or a combination.
    • Repayment: Serial bonds payable by annual principal installments; term bonds funded by sinking fund installments, with final maturity no later than 30 years after issuance.
  • Issuance specifics: Bonds must be signed by the city treasurer and the mayor (manual or facsimile signatures). The city council determines sale details (amounts, maturities, interest rates, etc.).
  • Use of proceeds: Expenditures may cover project costs, debt service on temporary notes, repayments of advances, issuance costs, and interest costs (including funded or prepaid interest during construction).
  • Temporary financing: The council may authorize anticipation notes (temporary notes) in anticipation of bonds or aid, with specified limits and five-year overall repayment windows.
  • Financial management: Proceeds and interest/earnings may be invested or applied toward project costs, debt service, city revenues, or tax levies consistent with federal law.
  • Tax and debt status: Bonds/notes are general obligations of the city but excluded from the city’s debt limit calculations in relation to other debt. The city must annually appropriate an amount to cover principal and interest as they come due; if not, such amounts may be added to the annual property tax levy.
  • Federal/state funding: The act allows the city to apply for and expend federal or state advances or grants for the project, with federal law prevailing in any conflict.
  • Legal and procedural assurances: The act affirms validity of bonds even if current officials have left office and allows various guarantees to ensure constitutional and securities compliance. It also authorizes continuing disclosure and compliance with SEC Rule 15c2-12.
  • Termination and elections: Unissued authority can be extinguished by city council resolution seven years after the act’s effective date. Approval by Pawtucket voters is required at the next general election (or a special election if called), with a specified ballot form.
  • Effective date: Sections 13-14 (election-related) take effect on passage; remaining provisions take effect upon voter approval.

Who/what would be affected

  • The City of Pawtucket and its public buildings would be directly affected.
  • City finances: City taxpayers and property owners would bear potential tax implications if annual debt service is not otherwise funded.
  • City government: Mayor, City Treasurer, and City Council would have statutory authority and duties related to issuing bonds, managing funds, and ensuring compliance.

Procedural and timeline notes

  • Approval required by Pawtucket voters at the next general election (or a specified special election).
  • The act provides a multi-year financing window (capital improvements for 2028 and 2029).
  • Unissued bond authority can be extinguished after seven years if not used.
  • Subject to local and federal financing rules, with the act designed to streamline issuance and project funding for public-buildings-related needs.

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

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