Rhode Island H8592: AN ACT AUTHORIZING THE CITY OF PAWTUCKET TO PROVIDE FOR THE DESIGN, CONSTRUCTION, RECONSTRUCTION, REPAIR AND EQUIPPING OF STREETS, SIDEWALKS AND OTHER TRANSPORTATION INFRASTRUCTURE IMPROVEMENTS INCLUDING, BUT NOT LIMITED TO, DRAINAGE AND LANDSCAPING 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 (Authorizes the city of Pawtucket to issue not more than $2,000,000 general obligation bonds and notes to finance the design, construction, reconstruction, repair and equipping of streets and sidewalks.)

What the bill says

A resolution evidencing the city's intent to pay off the notes without extinguishing the authority to issue bonds or notes; and (2) That the period from the date of an original note to the maturity date of any other note shall not exceed five (5) years. Section 5-106 of the city charter shall not apply to the issue of notes in anticipation of bonds. SECTION 4. Pending any authorization or issue of bonds hereunder or pending or in lieu of any authorization or issue of notes hereunder, the city treasurer, with the approval of the city council may, to the extent that bonds or notes may be issued.

From the introduced text, May 27, 2026:

a resolution evidencing the city's intent to pay off the notes without extinguishing the authority to issue bonds or notes; and (2) That the period from the date of an original note to the maturity date of any other note shall not exceed five (5) years. Section 5-106 of the city charter shall not apply to the issue of notes in anticipation of bonds. SECTION 4. Pending any authorization or issue of bonds hereunder or pending or in lieu of any authorization or issue of notes hereunder, the city treasurer, with the approval of the city council may, to the extent that bonds or notes may be issued hereunder, apply funds in the general treasury of the city to the purposes specified in section 2, such advances to be repaid without interest from the proceeds of bonds or notes subsequently issued or from the proceeds of applicable federal or state assistance or from other available funds. SECTION 5. Any proceeds of bonds or notes issued hereunder or of any applicable federal or state assistance, pending their expenditure may be deposited or invested by the city treasurer, in demand deposits, time deposits or savings deposits in banks which are members of the Federal Deposit Insurance Corporation or in obligations issued or guaranteed by the United States of America or by any …