Rhode Island Senate Bill S2969

Rhode Island 2022 Regular Session

• Introduced: 5/19/22
• Refer: 5/19/22
• Report Pass: 5/24/22
• Engrossed: 6/2/22
• Refer: 6/7/22
• Report Pass: 6/15/22
• Enrolled: 6/17/22
• Passed: 6/29/22

Caption

Authorizing The City Of Pawtucket To Provide For The Repaving Of Streets In The City And All Costs Related Thereto And Authorizing The Financing Thereof, Including The Issue Of Not More Than $3,000,000 Bonds, Notes And Other Evidences Of Indebtedness Therefor, To Fund The Capital Improvement Program For The Two Fiscal Years 2024 And 2025

Impact

The financial provisions outlined in S2969 indicate that the city council will have broad authority to manage the issuance and sale of bonds. This includes determining the specifics of the bonds such as terms, interest rates, and denominations. The proceeds from these bonds are intended to cover the costs associated with the street repaving project, along with any related expenditures such as interest payments during construction. The passage of this bill could enhance road safety and accessibility in Pawtucket, thus potentially improving overall quality of life for its inhabitants.

Summary

S2969 is an act that authorizes the city of Pawtucket to undertake the repaving of streets within the city, and to finance this undertaking by issuing up to $3,000,000 in general obligation bonds, notes, and other forms of indebtedness. This legislation is primarily aimed at improving the city's infrastructure by addressing the condition of local streets, which is a pressing concern for residents. The financial mechanism allows for the planning and execution of these improvements over the two fiscal years of 2024 and 2025.

Contention

While the bill progressed without significant opposition during its voting history, the financing mechanism may prompt debate regarding long-term fiscal responsibilities for the city. Critics may raise concerns regarding the implications of increased debt levels, especially in a context where funding for other city services might be strained. However, supporters argue that this investment in infrastructure is essential for maintaining public safety and promoting future economic growth.

Voting_history

S2969 was passed with overwhelming support in the legislative assembly, indicating a consensus among lawmakers. The voting record shows that it received 59 votes in favor and none against, showcasing strong bipartisan support for the initiatives outlined within the bill.