This bill authorizes the city of Central Falls to issue bonds and notes in an amount not exceeding $15,000,000 for the purpose of financing the construction, renovation, improvement, alteration, repair, furnishing, and equipping of schools and school facilities within the city. The act serves as an enabling statute required under existing law, specifically referencing section 16-7-44, which stipulates that any bonds, notes, or other evidences of indebtedness issued under this act for school projects shall not be eligible for state housing aid reimbursement unless the school projects have received prior approval from the Rhode Island Department of Education (RIDE).

The act specifies that the question of approval for the issuance of the bonds and notes was previously submitted to and approved by the electors of the city at the November 5, 2024 election. It takes effect upon passage.