RI H8300

Authorizes the City of Central Falls to issue up to $25,000,000 in bonds, notes, or other debt instruments to finance construction, renovation, improvement, alteration, repair, furnishing, and equipping of schools and school facilities.

Bonds must be repaid within 30 years, with the first principal installment due no later than 5 years after issuance; bonds may be issued as serial bonds, term bonds, zero coupon bonds, or capital appreciation bonds.

Central Falls voters previously approved the bond issuance at the November 5, 2024 election; this act provides the required enabling legislation from the General Assembly pursuant to § 16-7-44.

School projects are not eligible for state housing aid reimbursement unless approved by the Rhode Island Department of Education (RIDE).

Supersedes Public Act 019 (H 6077—2025) and Public Act 020 (S 0674—2025) as applied to Central Falls, and takes effect upon passage.