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HB 8593

AN ACT AUTHORIZING THE CITY OF PAWTUCKET TO PROVIDE FOR THE IMPROVEMENT AND REPLACEMENT OF ROAD SAFETY INFRASTRUCTURE AND TRAFFIC CONTROL DEVICES IN THE CITY OF PAWTUCKET AND AUTHORIZING THE FINANCING THEREOF, INCLUDING THE ISSUE OF NOT MORE THAN $2,500,000 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

Authorizes Pawtucket to issue up to $2.5 million in bonds to fund road safety upgrades for 2028–2029, with voter approval and defined debt terms.

06/23/2026 Signed by Governor
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WeVote Research Nonpartisan
Bill Summary · HB 8593

Overview

HB 8593 (Rhode Island, 2026) would authorize the City of Pawtucket to finance improvements to road safety infrastructure and traffic control devices through the issuance of up to $2.5 million in bonds and notes. The measure covers funding for a capital improvement program for the two fiscal years 2028 and 2029. The act includes authorization for bond issuance, debt management, use of proceeds, and a voter referendum to approve the financing.

Main purpose and intent

  • To authorize Pawtucket to issue general obligation bonds and notes up to $2,500,000 to fund the improvement and replacement of road safety infrastructure and traffic control devices.
  • To provide a dedicated funding mechanism for a capital improvement program focused on road safety and traffic management in the specified future fiscal years (2028–2029).
  • To enable financing flexibility (serial bonds, term bonds, or a combination) and to outline repayment terms and related processes.

Key provisions and changes

  • Section 1: Authorization to issue up to $2,500,000 in bonds or notes, in the city’s name, with the form of bonds and repayment terms determined by city action. Bonds may be serial, term, or a mix; payments can be annual with first principal payment within 3 years and last within 30 years.
  • Section 2: Details on signatures, sale, denominations, maturities, interest, and use of bond proceeds. Proceeds must be used for project costs, debt service on temporary notes, advances repayment, issuance costs, and possibly funded or capitalized interest during construction.
  • Section 3: City council may issue anticipatory notes (temporary notes) in advance of bonds or aid, with limits on amounts and terms (up to five-year maturities; refunding rules and investment provisions).
  • Section 4–5: Authority to place funds from the treasury toward the project prior to bond issuance and to invest/hold proceeds in approved instruments (banks insured by FDIC, U.S. government obligations, etc.).
  • Section 6: Application of accrued interest, premiums, and investment earnings to bond/issue costs, project costs, debt service, or city revenues as allowed. Remaining balances allocated to debt service or city revenues per applicable law.
  • Section 7: Debt obligations are binding on the city; annual appropriation of sufficient funds to pay principal and interest; property taxation authority remains intact to cover any shortfalls.
  • Section 8–11: Standard provisions regarding validity, non-dependence on continuing office, ability to apply for grants, tax and securities compliance, and continuing disclosure.
  • Section 12: Unissued debt authority can be extinguished by city council after seven years.
  • Sections 13–14: A voter referendum is required. The act (or the financing proposal) must be approved by Pawtucket electors at the next general election, with optional special election timing. If approved, Sections 1–12 take effect; Sections 13–14 take effect upon passage.

Affected parties and impacts

  • City of Pawtucket finances and debt management authorities are empowered to issue bonds/notes for road safety projects.
  • Taxpayers and property owners in Pawtucket could be subject to ad valorem taxes to fund debt service if other sources (grants, state/federal aid) are insufficient.
  • Local government finance officers must comply with debt issuance, disclosure, and investment rules; bond proceeds allocated to specified infrastructure and related costs.

Procedural and timeline aspects

  • Introduced May 27, 2026; referred to House Municipal Government & Housing.
  • Requires voter approval at the next general election (or a special election) before Sections 1–12 take effect; Sections 13–14 take effect upon passage.
  • If approved, the two-year capital program (2028–2029) would be funded through the authorized bonds/notes.

Overall, the bill seeks voter-approved financing authorization for Pawtucket to fund targeted road safety upgrades through a defined capital program, with structured debt mechanics and adherence to state and federal requirements.

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

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