# Rhode Island S3087: AN ACT AUTHORIZING THE CITY OF CENTRAL FALLS TO FINANCE THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES IN THE CITY BY THE ISSUANCE OF NOT MORE THAN $25,000,000 BONDS, NOTES AND/OR OTHER EVIDENCES OF INDEBTEDNESS THEREFOR . Rhode Island S3087, AN ACT AUTHORIZING THE CITY OF CENTRAL FALLS TO FINANCE THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES IN THE CITY BY THE ISSUANCE OF NOT MORE THAN $25,000,000 BONDS, NOTES AND/OR OTHER EVIDENCES OF INDEBTEDNESS THEREFOR ., is a 2026 Regular Session Senate bill sponsored by Jonathon Acosta (Democratic); status became law, last action 2026-06-12 (Effective without Governor's signature) (as of 2026-11-01). - Canonical: https://policyrisk.com/state-bill/RI-S3087-2026 - As of: 2026-11-01 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Rhode Island S3087 - State: Rhode Island - Session: 2026 Regular Session - Title: AN ACT AUTHORIZING THE CITY OF CENTRAL FALLS TO FINANCE THE CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, REPAIR, FURNISHING AND EQUIPPING OF SCHOOLS AND SCHOOL FACILITIES IN THE CITY BY THE ISSUANCE OF NOT MORE THAN $25,000,000 BONDS, NOTES AND/OR OTHER EVIDENCES OF INDEBTEDNESS THEREFOR . - Status: became law - Chamber: Senate - Introduced: 2026-03-13 - Last action: 2026-06-12, Effective without Governor's signature - Sponsor: Jonathon Acosta (Democratic) - Cosponsors: 0 - Touches household money: no - Roll calls: 2 (101 yes, 0 no in all) - Economic provisions PRIA read: 5 ## Summary No summary available. ## Bill overview: provisions PRIA read - Central Falls borrows $25M for schools: benefit, low. The city can issue up to $25 million to build, fix, furnish, and equip school buildings. Money can also cover related costs like paying short-term notes, issuance costs, and interest during construction. Funds go to the city’s finance director and must be used for these school purposes only. Voters… - Property tax pledge and state aid rules: mixed, medium. The bonds are a full debt of the city. If yearly payments are not budgeted, they are added to the property tax levy without a rate cap. To get state school housing aid, each project must be approved by the state education department. The city can seek federal or state grants to lower local costs. A… - Bond types and 5–30 year payback: mixed, low. The city may issue serial, term, zero-coupon, or capital appreciation bonds. Any principal that grows after issue counts as interest for debt-limit rules. The first principal payment must come within five years, and the last within thirty years. - Faster bond issuance and oversight steps: mixed, low. The city may issue these bonds without other agency approvals unless this law requires them. The finance director and the mayor can sign needed documents and meet federal tax and securities rules, including disclosures. The city may use state financing agencies and choose to apply their rules to th… - Short‑term notes and fund safeguards: mixed, low. The city can issue short‑term notes while waiting for bonds or state/federal aid. Notes must be paid within five years and cannot exceed the bond amount or expected aid. Refunding notes is allowed, but total notes cannot exceed 200% of the authorized bonds, and excess refunding money must be held i… ## Sponsors and cosponsors - Sponsor: Jonathon Acosta (Democratic), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-06-04 | House | CENTRAL FALLS - BONDS & NOTES PASSAGE IN CONCURRENCE | pass | 63 | 0 | | | 2026-05-26 | Senate | THE CITY OF CENTRAL FALLS -- BONDS Passage | pass | 38 | 0 | | ## Actions (11) - 2026-06-12: Effective without Governor's signature (Governor) - 2026-06-04: Transmitted to Governor (Governor) - 2026-06-04: House passed in concurrence (House) - 2026-06-02: Placed on the House Consent Calendar (06/04/2026) (House) - 2026-05-26: Senate read and passed (Senate) - 2026-05-20: Placed on Senate Calendar (05/26/2026) (Senate) - 2026-05-19: Committee recommends passage - 2026-05-15: Scheduled for consideration (05/19/2026) - 2026-05-12: Committee heard - 2026-05-08: Scheduled for hearing and/or consideration (05/12/2026) - 2026-03-13: Introduced, referred to Senate Finance (Senate) ## Bill text - S3087 - As Introduced, 2026-03-13: [HTML](https://webserver.rilegislature.gov/BillText26/SenateText26/S3087.htm), [PDF](https://webserver.rilegislature.gov/BillText26/SenateText26/S3087.pdf) ## Related bills - S3073: AN ACT RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY . (became law) - S3047: AN ACT RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE GENERALLY -- DISTRICT COURT PRACTICE . (became law) - H8605: JOINT RESOLUTION MAKING AN APPROPRIATION TO PAY CERTAIN CLAIMS . (became law) - H8580: AN ACT RELATING TO THE NORTH TIVERTON FIRE DISTRICT . (became law) - H8586: AN ACT RELATING TO HIGHWAYS -- RHODE ISLAND TURNPIKE AND BRIDGE AUTHORITY . (became law) - H8506: AN ACT RELATING TO TOWNS AND CITIES -- RELATING TO CENTRAL FALLS PENSION PLAN . (became law) ## Sources - [S3087 - As Introduced (HTML)](https://webserver.rilegislature.gov/BillText26/SenateText26/S3087.htm) - [S3087 - As Introduced (PDF)](https://webserver.rilegislature.gov/BillText26/SenateText26/S3087.pdf) ## Related - [S3073: AN ACT RELATING TO PROPERTY -- MORTGAGES OF REAL PROPERTY .](https://policyrisk.com/state-bill/RI-S3073-2026) - [S3047: AN ACT RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE GENERALLY -- DISTRIC…](https://policyrisk.com/state-bill/RI-S3047-2026) - [H8605: JOINT RESOLUTION MAKING AN APPROPRIATION TO PAY CERTAIN CLAIMS .](https://policyrisk.com/state-bill/RI-H8605-2026) - [H8580: AN ACT RELATING TO THE NORTH TIVERTON FIRE DISTRICT .](https://policyrisk.com/state-bill/RI-H8580-2026) - [H8586: AN ACT RELATING TO HIGHWAYS -- RHODE ISLAND TURNPIKE AND BRIDGE AUTHORITY .](https://policyrisk.com/state-bill/RI-H8586-2026) - [H8506: AN ACT RELATING TO TOWNS AND CITIES -- RELATING TO CENTRAL FALLS PENSION PLAN .](https://policyrisk.com/state-bill/RI-H8506-2026) - [Rhode Island bills](https://policyrisk.com/states/rhode-island/bills) - [Rhode Island state hub](https://policyrisk.com/states/rhode-island) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/RI-S3087-2026 (as of 2026-11-01).