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Rhode IslandS33562026 Regular SessionSenate

AN ACT AUTHORIZING THE CITY OF CRANSTON TO FINANCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, RENOVATION, REPAIR AND ALTERATION OF PLAYGROUNDS, ATHLETIC FIELDS AND RELATED EQUIPMENT IN THE CITY BY THE ISSUANCE OF NOT MORE THAN $4,000,000 GENERAL OBLIGATION BONDS AND NOTES THEREFOR .

Sponsored By: Todd M. Patalano (Democratic)

Became Law

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Bill Overview

Analyzed Economic Effects

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

$4M for Cranston parks and fields

The law lets Cranston borrow up to $4 million to buy, build, and fix playgrounds, athletic fields, and related equipment. Bonds can be serial, term, zero‑coupon, or capital appreciation. The first principal payment is due within 5 years and the last within 30 years. Any growth in principal after issue counts as interest for debt‑limit rules. Money can pay project costs, issuance costs, interest, temporary notes, and repay city advances. The treasurer may invest funds in banks or U.S. government securities; sale interest pays the first interest due, and earnings or premiums can cover project or debt costs. The city may also seek state or federal grants to help fund the projects.

Short-term borrowing to start projects

The city can issue short‑term notes before selling bonds or before aid arrives. Each original note must be repaid within 5 years, and renewals cannot go past 5 years from the first note. Refunding notes outstanding cannot be more than 200% of the bonds allowed. Notes for expected state or federal aid cannot be larger than the estimated aid. The treasurer can also advance city funds with council approval, to be repaid later without interest from bonds, aid, or other funds.

Property taxes back the park bonds

These bonds are the city’s general obligations. The city must set aside enough each year to pay principal and interest. If it does not, that amount is added to the annual property tax levy. All taxable property in Cranston can be taxed without a rate limit to make the payments.

Voters must approve the borrowing

Cranston voters decide this bond question at the general election on November 3, 2026, or at a council‑called city‑wide special election. The borrowing authority takes effect only if a majority approves. Seven years after the law’s effective date, the city council can cancel any unused borrowing authority.

Sponsors & Cosponsors

Sponsor

  • Todd M. Patalano

    Democratic • Senate

Cosponsors

  • Hanna M. Gallo

    Democratic • Senate

  • Matthew L. LaMountain

    Democratic • Senate

  • Lammis J. Vargas

    Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 107 • No: 0

House vote • 6/11/2026

AUTHORIZING THE CITY OF CRANSTON PASSAGE IN CONCURRENCE

Yes: 69 • No: 0

Senate vote • 6/10/2026

THE CITY OF CRANSTON -- BONDS Passage

Yes: 38 • No: 0

Actions Timeline

  1. Effective without Governor's signature

    6/26/2026Governor

  2. Transmitted to Governor

    6/18/2026Governor

  3. House passed in concurrence

    6/11/2026House

  4. Placed on House Calendar (06/11/2026)

    6/11/2026House

  5. Senate read and passed

    6/10/2026Senate

  6. Placed on Senate Calendar (06/10/2026)

    6/9/2026Senate

  7. Committee recommends passage

    6/9/2026

  8. Scheduled for hearing and/or consideration (06/09/2026)

    6/5/2026

  9. Introduced, referred to Senate Housing and Municipal Government

    6/5/2026Senate

Bill Text

  • S3356 - As Introduced

    6/5/2026

    HTMLPDF

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