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SB 3321

AN ACT AUTHORIZING THE CITY OF PAWTUCKET TO PROVIDE FOR THE RENOVATION, CONSTRUCTION, RECONSTRUCTION AND EQUIPPING OF PUBLIC RECREATION FACILITIES IN THE CITY INCLUDING LAND ACQUISITION AND AUTHORIZING THE FINANCING THEREOF, INCLUDING THE ISSUE OF NOT MORE THAN $2,000,000 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

Allows Pawtucket to issue up to $2,000,000 in bonds for renovations and construction of public recreation facilities, with voter approval.

06/23/2026 Signed by Governor
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WeVote Research Nonpartisan
Bill Summary · SB 3321

Summary of SB 3321 (Rhode Island, 2026)

Purpose and intent

  • Authorizes the City of Pawtucket to finance renovations, construction, reconstruction, and equipping of public recreation facilities, including land acquisition, through the issuance of bonds and notes.
  • Specifically sets a maximum principal amount of not more than $2,000,000 to fund the city’s Capital Improvement Program for the fiscal years 2028 and 2029.
  • The bill requires voter approval for the authority to issue bonds and notes, with the referendum to be held at the next general election (or at a specially scheduled election if called).

Key provisions and changes

  • Section 1 – Bond authorization

    • Grants Pawtucket authority to issue up to $2,000,000 in general obligation bonds and/or notes.
    • Bonds may be serial, term, or a combination, with repayment terms: serial bonds amortize annually; term bonds require sinking fund installments.
    • First principal payment no later than 3 years after issuance; final payment no later than 30 years after issuance.

  • Section 2 – Use of bond proceeds

    • Proceeds must be used for: 1) Renovation, construction, reconstruction, and equipping of public recreation facilities, including land acquisition and related costs. 2) Payment of principal or interest on temporary notes issued under Section 3. 3) Repayment of advances under Section 4. 4) Costs of issuance. 5) Financing costs such as funded or capitalized interest during construction.

  • Section 3 – Temporary notes

    • City may issue anticipatory notes (interim financing) for bonds or anticipated federal/state aid.
    • Limits on note amounts and maturity; notes must mature within 5 years.
    • Provisions for refunding, including limits on outstanding refunding notes (not exceeding 200% of the bond amount) and investment of proceeds in a dedicated fund if refunded.

  • Section 4 – Use of city funds

    • The city treasurer, with council approval, may apply general treasury funds toward the project and repay advances without interest from bond proceeds or eligible aid.

  • Section 5 – Investment of proceeds

    • Proceeds and interest may be deposited or invested in insured banks, U.S. government securities, or as allowed by state law and council policy.

  • Section 6 – Application of earnings

    • Interest, premiums, and investment earnings may be used for costs related to the bonds, the project, or as revenues to fund city operations, subject to applicable federal law.

  • Section 7 – Debt and annual appropriation

    • Bonds/notes are obligations of the city and are not counted toward the city's debt for statutory debt limits.
    • The city must annually appropriate funds to cover the annual principal and interest payments, or levy taxes if necessary.

  • Section 8 – Validity notwithstanding office changes

    • Bonds/notes remain valid even if officers change before delivery.

  • Section 9 – Federal/state assistance

    • Allows leveraging federal/state advances or grants for the project, with federal law prevailing in case of conflict.

  • Section 10 – Authority and project unity

    • Bond/note issuance is not contingent on other city approvals beyond those stated; project is treated as a single consolidated effort under the city charter.

  • Section 11 – Documentation and compliance

    • City officials may execute necessary documents to comply with tax and securities laws and ongoing disclosure.

  • Section 12 – Extinguishment of unused authority

    • Unissued authority to issue bonds/notes may be extinguished by council resolution after seven years.

  • Section 13–14 – Referendum and effective dates

    • The authorization must be approved by Pawtucket electors at a future election.
    • Sections 13-14 (referendum procedure and timing) take effect upon passage; remaining sections take effect upon voter approval.

Who would be affected

  • The City of Pawtucket (acting through its city council, treasurer, and mayor) would incur debt for the specified capital projects.
  • Pawtucket residents indirectly through potential property tax implications and improved public recreation facilities.
  • Contractors, developers, and landowners associated with recreation facility projects and related land acquisition.

Procedural and timeline notes

  • Requires voter approval at a general (or special) election.
  • If approved, authorization would cover capital improvements for 2028 and 2029, with debt issued under terms set by the city council.
  • The act permits interim financing and potential use of federal/state aid to support project financing, subject to federal law.

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

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