Authorizes the Town of Narragansett to issue up to $3,000,000 in bonds and notes for fire station improvements.
This act authorizes the Town of Narragansett to issue bonds and notes totaling up to $3,000,000 for equipping, expanding, improving, and renovating fire stations. The proceeds from these bonds and notes, along with any applicable federal or state assistance, will be used for these projects. The town council will oversee the projects and contracts. The bonds and notes will be exempt from ad valorem taxation. The act also allows the treasurer to apply town funds to these projects, to be repaid from future bond or note proceeds.
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