Rhode Island Senate Bill S0982

Rhode Island 2023 Regular Session

• Introduced: 5/15/23
• Refer: 5/15/23
• Report Pass: 5/23/23
• Engrossed: 5/30/23
• Enrolled: 6/6/23
• Passed: 6/14/23

Caption

Authorizing The Stone Bridge Fire District To Issue General Obligation Bonds And/or Notes In An Amount Not To Exceed One Million Two Hundred Fifty Thousand Dollars

Impact

By allowing the issuance of these bonds, S0982 empowers the Stone Bridge Fire District to address infrastructure needs that might otherwise go unmet due to funding constraints. The ability to finance upgrades through bonds means that the Fire District can proceed with projects that support public health and safety, especially considering the vital role of water systems in fire protection and service delivery. Such improvements are likely to have positive long-term effects on community services and resilience.

Summary

S0982 is a legislative act that authorizes the Stone Bridge Fire District to issue general obligation bonds and/or notes amounting to a maximum of $1,250,000. The purpose of these funds is to finance much-needed capital improvements to the district's water system. This legislation is significant in enabling the Fire District to undertake essential upgrades to enhance the reliability and efficiency of water distribution services in the area.

Contention

Discussions surrounding S0982 highlighted some concerns regarding financial management and the potential impact on local taxes. As the district commits to repaying the bonds through property taxes, there are fears that this might lead to increased financial burdens for residents. While proponents argue that the improvements will ultimately lead to better services and potentially lower costs over time, opponents caution against unnecessary debt and tax implications that could arise from taking on such obligations.