RI H7491

Authorizes the City of Providence to issue up to $25,000,000 in general obligation bonds and notes to fund the Providence Housing Trust Fund for financing affordable multi-family housing projects in the city

Bonds may be issued as serial bonds, term bonds, zero coupon bonds, or capital appreciation bonds, with the first principal installment due within 5 years and the last within 30 years of issuance

Bond debt is excluded from the city's borrowing capacity calculations under § 45-12-2 and the city charter; the city must annually appropriate sufficient funds for principal and interest payments, backed by unlimited ad valorem taxation authority

Requires voter approval at the November 3, 2026 general election before the bonding authority takes effect

Unissued bond authority may be extinguished by city council resolution 7 years after the act's effective date, without further action by the General Assembly