The bill authorizes the Town of New Shoreham to issue bonds totaling up to $10,400,000 for the purpose of financing additions, renovations, improvements, alterations, and repairs to schools and school facilities within the town. This action is in accordance with Rhode Island General Laws 16-7-44 and serves as the enabling act required for the principal and interest on the bonds to be eligible for state housing aid reimbursement. The funds raised through these bonds will support various educational infrastructure projects. The act will take effect upon passage.