The bill allows the Town of Glocester to issue general obligation bonds and notes up to $10,700,000 for the renovation, expansion, or construction of its police station on Chopmist Hill Road, including related equipment and furnishings. The bonds may have varying terms, with the first installment of principal due within five years and the last within thirty years from the date of issuance. The bill specifies that only the original principal amount is counted towards the town's principal indebtedness, excluding any appreciation of principal, which is considered interest.

The bill details the procedures for the signing, issuing, and selling of the bonds, which are to be managed by the town council and the director of finance. It also allows for the consolidation of these bonds with other town bonds and authorizes the issuance of temporary notes in anticipation of bonds or federal/state aid. The director of finance is permitted to apply town treasury funds to the project costs in anticipation of or in lieu of bond or note issuance. The bill requires the town to annually appropriate funds for the payment of principal and interest, and it states that the bonds and notes will remain valid even if the officers executing them cease to hold office before delivery and payment. The bill's effectiveness is subject to voter approval, with certain sections taking effect immediately upon passage and the remainder upon voter approval.