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Rhode IslandH61292025 Regular SessionHouse

AN ACT 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 .

Sponsored By: Thomas E. Noret (Democratic)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

West Warwick property taxes back school debt

After a majority of voters approve the ballot question, West Warwick must budget each year for school debt payments. Other available funds can cover those payments. Any amount not otherwise covered must be added to the town’s annual property tax levy. All taxable property backs repayment, with no limit on the tax rate or amount needed for that purpose. The law does not set any household’s tax bill.

West Warwick gets school borrowing authority

The law authorizes up to $71 million in West Warwick school borrowing, subject to majority approval on the ballot question. Money can buy, build, repair, furnish, and equip schools, plus cover demolition, design, landscaping, and financing costs. It can also repay prior town advances and temporary notes. Bond principal payments must start within five years of issuance and end within 30 years. Temporary borrowing must be repaid within five years of original issuance, including renewals. Notes backed by expected state or federal aid cannot exceed that expected aid. Outstanding refunding notes are capped at 200% of the bond authorization—$142 million—unless proceeds are held in trust for repayment. The town can seek state and federal assistance and enter financing agreements with authorized state agencies. Investment earnings and bond premiums can help cover project or debt costs. After seven years from the act’s approval, the town can cancel unused borrowing authority by ordinance.

Sponsors & Cosponsors

Sponsor

  • Thomas E. Noret

    Democratic • House

Cosponsors

  • Earl A. Read, III

    Democratic • House

  • Patricia A. Serpa

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 72 • No: 0

House vote • 5/27/2025

WEST WARWICK/BONDS & NOTES PASSAGE

Yes: 72 • No: 0

Actions Timeline

  1. Signed by Governor

    6/23/2025Governor

  2. Transmitted to Governor

    6/17/2025Governor

  3. Senate passed in concurrence

    6/17/2025Senate

  4. Placed on the Senate Consent Calendar (06/17/2025)

    6/13/2025Senate

  5. Committee recommends passage in concurrence

    6/10/2025

  6. Scheduled for consideration (06/10/2025)

    6/6/2025

  7. Referred to Senate Finance

    6/2/2025Senate

  8. House read and passed

    5/27/2025House

  9. Placed on House Calendar (05/27/2025)

    5/23/2025House

  10. Committee recommends passage

    5/20/2025

  11. Scheduled for consideration (05/20/2025)

    5/16/2025

  12. Committee recommended measure be held for further study

    4/3/2025

  13. Scheduled for hearing and/or consideration (04/03/2025)

    3/29/2025

  14. Introduced, referred to House Finance

    3/21/2025House

Bill Text

  • H6129 - As Introduced

    3/21/2025

    HTMLPDF

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