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Rhode IslandS32412026 Regular SessionSenate

AN ACT AUTHORIZING THE TOWN OF NARRAGANSETT TO FINANCE THE EQUIPPING, EXPANSION, IMPROVEMENT AND RENOVATION OF FIRE STATIONS IN THE TOWN OF NARRAGANSETT AND TO ISSUE NOT MORE THAN $3,000,000 BONDS AND NOTES THEREFOR .

Sponsored By: Alana M. DiMario (Democratic)

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Bill Overview

Analyzed Economic Effects

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

Fire station bonds with unlimited tax

Narragansett can borrow up to $3 million for fire station work by selling bonds or notes. Principal payments must start within 5 years and finish within 30 years of each issue. The town must pay principal and interest each year; if not, the amount is added to the tax levy. All taxable property can be taxed without a rate or amount limit to cover these payments. Voters decide this borrowing at the Nov 3, 2026 election, and most parts take effect only if a majority approves.

Money to upgrade town fire stations

Bond money must fund equipping, expanding, improving, and renovating Narragansett fire stations. It can also pay interest or principal on short-term notes or repay town advances used for these projects. The town council can apply for and use federal or state grants to lower local costs. Federal rules control if they conflict with state rules. These funds are treated as already approved for the stated uses.

Rules for managing bond money

The treasurer can place idle proceeds in FDIC banks or U.S.-backed securities until needed. Accrued interest from sales pays the first interest bill; premiums and earnings can fund project or issuance costs, extra work, or debt payments as guided by the council. The treasurer must keep bond interest tax‑exempt for investors, including paying any federal rebate. The town can issue these bonds and notes without extra government approvals; if this law conflicts with the town charter, this law controls.

Short-term notes and town advances

The town can issue short-term notes to cover costs before long‑term bonds or grants arrive. Notes in anticipation of bonds cannot exceed the $3 million bond limit; notes against aid cannot exceed the treasurer’s estimate of aid. Notes and any renewals must be fully paid within 5 years of the original issue. With council approval, the treasurer can advance town funds and repay them without interest from later bonds, grants, or other funds. These tools speed projects but add short‑term debt the town must cover.

Sponsors & Cosponsors

Sponsor

  • Alana M. DiMario

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 101 • No: 0

House vote • 6/3/2026

NARRAGANSETT BONDS AND NOTES PASSAGE IN CONCURRENCE

Yes: 63 • No: 0

Senate vote • 5/12/2026

THE TOWN OF NARRAGANSETT -- BONDS Passage

Yes: 38 • No: 0

Actions Timeline

  1. Effective without Governor's signature

    6/11/2026Governor

  2. Transmitted to Governor

    6/3/2026Governor

  3. House passed in concurrence

    6/3/2026House

  4. Placed on the House Consent Calendar (06/03/2026)

    5/29/2026House

  5. Committee recommends passage in concurrence

    5/26/2026

  6. Scheduled for consideration (05/26/2026)

    5/22/2026

  7. Referred to House Municipal Government & Housing

    5/13/2026House

  8. Senate read and passed

    5/12/2026Senate

  9. Placed on Senate Calendar (05/12/2026)

    5/8/2026Senate

  10. Committee recommends passage

    5/7/2026

  11. Scheduled for hearing and/or consideration (05/07/2026)

    5/1/2026

  12. Introduced, referred to Senate Housing and Municipal Government

    5/1/2026Senate

Bill Text

  • S3241 - As Introduced

    5/1/2026

    HTMLPDF

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