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Rhode IslandS33582026 Regular SessionSenate

AN ACT AUTHORIZING THE CITY OF CRANSTON TO FINANCE THE ACQUISITION, IMPROVEMENT, RENOVATION AND REPAIR OF FIRE AND PUBLIC SAFETY EQUIPMENT BY THE ISSUANCE OF NOT MORE THAN $8,000,000 GENERAL OBLIGATION BONDS AND NOTES THEREFOR .

Sponsored By: Todd M. Patalano (Democratic)

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 0 benefits, 1 costs, 3 mixed.

Property tax pledge backs city bonds

Cranston must pay bond principal and interest each year. If not, the unpaid amount is added to the annual tax levy. All taxable property in Cranston can be taxed without limit in rate or amount to pay this debt. Homeowners and renters could face higher property taxes.

Cranston vote on $8 million safety bonds

The law lets Cranston borrow up to $8 million for fire and public safety equipment. Voters must approve this at the November 3, 2026 general election, or at a city‑wide special election set by the council. The council must also pass an order or resolution to issue the bonds. A copy of the act is available for public inspection before the vote.

How Cranston uses and manages bond money

Bond money, not premiums or accrued interest, must fund fire and public safety equipment and related costs. The city can seek and use federal or state grants with these funds. The treasurer, with council approval, may advance city money for the projects and repay it later without interest. Until spent, proceeds can be invested in allowed bank deposits or U.S. obligations. Earnings and sale premiums can pay costs or debt and, if federal law allows, may be treated as property tax revenue.

Terms for bonds, notes, and timing

Bond principal payments must start within 5 years and finish within 30 years. Bonds can be zero‑coupon, capital appreciation, serial, term, or a mix; appreciation counts as interest for debt limits. The council may issue temporary notes before bonds or aid arrives; notes cannot exceed the bond authorization or estimated aid and must be paid within five years, including renewals. Refunding cannot leave more than 200% of the $8 million in temporary notes outstanding; excess proceeds must be held in trust to pay the refunded notes. Bonds under this act do not need other agency approvals the act does not require, and after seven years the council may 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

  • S3358 - As Introduced

    6/5/2026

    HTMLPDF

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