Rhode Island 2026 Regular Session

Rhode Island Senate Bill S3243

Introduced
5/1/26  
Refer
5/1/26  
Report Pass
5/7/26  
Engrossed
5/12/26  

Caption

AUTHORIZING THE TOWN OF PORTSMOUTH TO ISSUE NOT TO EXCEED $41,000,000 GENERAL OBLIGATION BONDS, NOTES AND OTHER EVIDENCES OF INDEBTEDNESS TO FINANCE THE CONSTRUCTION, ADDITIONS, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES THROUGHOUT THE TOWN

Impact

The passage of S3243 would have significant implications on state laws governing local government financing, particularly those related to the issuance of debt for education. The act stipulates that bonds issued for school projects will not be eligible for state housing aid reimbursement unless specifically approved by the Rhode Island Department of Education. This provision underscores the importance of aligning local educational projects with state educational guidelines, ensuring that the funds allocated are used effectively and justly for public education.

Summary

Bill S3243 authorizes the Town of Portsmouth to issue general obligation bonds, not exceeding $41,000,000, for funding the construction, renovation, and equipping of schools and school facilities within the town. This legislative act is designed to facilitate essential improvements to the local educational infrastructure, enabling the town to meet the growing needs of its student population and improve overall educational facilities. The bill specifies that any bonds issued shall be available in various forms, including zero coupon bonds and term bonds, ensuring flexibility in financing options for the town.

Contention

While the bill aims to bolster educational facilities, it may also engender discussions regarding the financial burdens placed on local taxpayers, as all taxable properties in the town will be subject to ad valorem taxation to meet the annual debt obligations associated with the bonds. Some community members may express concerns regarding potential increases in tax rates, the limitations on funding allocation for other priorities, and the overall impact on the town’s budget. The requirement for voter approval of the bonds at an upcoming election could also spark further debate on the priorities of public spending in the community.

Companion Bills

No companion bills found.

Previously Filed As

RI S0674

AUTHORIZING THE CITY OF CENTRAL FALLS TO FINANCE THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES IN THE CITY BY THE ISSUANCE OF NOT MORE THAN $15,000,000 BONDS, NOTES AND/OR OTHER EVIDENCES OF INDEBTEDNESS THEREFOR

RI H6077

AUTHORIZING THE CITY OF CENTRAL FALLS TO FINANCE THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES IN THE CITY BY THE ISSUANCE OF NOT MORE THAN $15,000,000 BONDS, NOTES AND/OR OTHER EVIDENCES OF INDEBTEDNESS THEREFOR

RI S1096

AUTHORIZING THE CITY OF WARWICK TO ISSUE NOT TO EXCEED $50,000,000 GENERAL OBLIGATION BONDS, NOTES AND OTHER EVIDENCES OF INDEBTEDNESS TO FINANCE THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, LANDSCAPING, DEMOLITION, ARCHITECTURAL COSTS, ENGINEERING, FURNISHING AND EQUIPPING OF

RI H6299

AUTHORIZING THE CITY OF WARWICK TO ISSUE NOT TO EXCEED $50,000,000 GENERAL OBLIGATION BONDS, NOTES AND OTHER EVIDENCES OF INDEBTEDNESS TO FINANCE THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, LANDSCAPING, DEMOLITION, ARCHITECTURAL COSTS, ENGINEERING, FURNISHING AND EQUIPPING OF

RI S1126

AUTHORIZING THE TOWN OF WEST WARWICK TO ISSUE NOT TO EXCEED $71,000,000 GENERAL OBLIGATION BONDS AND NOTES TO FINANCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, RENOVATION, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES THROUGHOUT THE TOWN AND ALL ATTENDANT EXPENSES INCLUDING, BUT NOT LIMITED TO, DEMOLITION, ENGINEERING, ARCHITECTURAL AND LANDSCAPING COSTS

RI H6129

AUTHORIZING THE TOWN OF WEST WARWICK TO ISSUE NOT TO EXCEED $71,000,000 GENERAL OBLIGATION BONDS AND NOTES TO FINANCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, RENOVATION, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES THROUGHOUT THE TOWN AND ALL ATTENDANT EXPENSES INCLUDING, BUT NOT LIMITED TO, DEMOLITION, ENGINEERING, ARCHITECTURAL AND LANDSCAPING COSTS

RI S0422

IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44 APPROVING THE ISSUANCE OF $10,400,000 BONDS BY THE TOWN OF NEW SHOREHAM TO FINANCE ADDITIONS, RENOVATIONS, IMPROVEMENTS, ALTERATIONS AND REPAIRS TO SCHOOLS AND SCHOOL FACILITIES IN THE TOWN INCLUDING, BUT NOT LIMITED TO, BONDS AND NOTES ISSUED PURSUANT TO FINANCING AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION

RI H6099

IN ACCORDANCE WITH RHODE ISLAND GENERAL LAWS SECTION 16-7-44 APPROVING THE ISSUANCE OF $10,400,000 BONDS BY THE TOWN OF NEW SHOREHAM TO FINANCE ADDITIONS, RENOVATIONS, IMPROVEMENTS, ALTERATIONS AND REPAIRS TO SCHOOLS AND SCHOOL FACILITIES IN THE TOWN INCLUDING, BUT NOT LIMITED TO, BONDS AND NOTES ISSUED PURSUANT TO FINANCING AGREEMENTS WITH THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION

RI S1155

Authorizes the town of Glocester to levy a supplemental tax, by voter referendum, that exceeds the current tax cap by three percent (3%) for fiscal year 2026, to fund school operations and avoid the loss of critical town services.

RI S0446

Submits 2026 capital development program requesting the issuance of $100,000,000 in general obligation bonds to the voters for approval at the November, 2026, general election.

Similar Bills

No similar bills found.