Central Falls authorizes up to $25,000,000 in bonds for school construction and improvements.

The bill empowers the City of Central Falls to issue bonds, notes, and other debt instruments totaling up to $25,000,000 for school construction, renovation, improvement, alteration, repair, furnishing, and equipping. The proceeds will be managed by the city director of finance and the mayor, who are authorized to execute necessary documents and agreements. The city council may approve the issuance of notes in anticipation of bonds or federal/state aid. The bonds are exempt from state housing aid reimbursement unless approved by the Rhode Island Department of Education.

Central Falls authorizes up to $25,000,000 in bonds for school construction and improvements.

The bill empowers the City of Central Falls to issue bonds, notes, and other debt instruments totaling up to $25,000,000 for school construction, renovation, improvement, alteration, repair, furnishing, and equipping. The proceeds will be managed by the city director of finance and the mayor, who are authorized to execute necessary documents and agreements. The city council may approve the issuance of notes in anticipation of bonds or federal/state aid. The bonds are exempt from state housing aid reimbursement unless approved by the Rhode Island Department of Education.