This bill grants the town of South Kingstown the authority to issue bonds up to $150,000,000 for various purposes, including the acquisition, construction, improvement, renovation, furnishing, and equipping of a new high school and other school facilities. The bill also allows the town to enter into financing agreements with the Rhode Island Health and Educational Building Corporation and the Rhode Island Infrastructure Bank. Additionally, the bill authorizes the town council to issue interest-bearing or discounted notes in anticipation of the issuance of bonds or the receipt of federal or state aid. The bill establishes provisions for the refunding of temporary notes and the use of funds for the payment of principal and interest.

In summary, this bill allows the town of South Kingstown to borrow money to fund the construction of a new high school and other school facilities. The funds can also be used for related expenses.