This bill authorizes the town of West Warwick to issue not more than $71 million in general obligation bonds and notes to finance the acquisition, construction, improvement, renovation, furnishing, and equipping of schools and school facilities throughout the town. The financing may also cover all attendant expenses, including but not limited to demolition, engineering, architectural, and landscaping costs.

The bill outlines that the bonds may be issued in various forms, such as serial or term bonds, and allows the town to enter into financing agreements with state entities for additional support. It specifies the procedures for issuing these bonds, including the signing authority, the use of proceeds, and the repayment terms, ensuring compliance with state laws.

Furthermore, the bill mandates that the town council must submit the question of bond issuance to the qualified voters of West Warwick for approval in a local election. Sections 14 and 15 of the bill will take effect upon passage, while the remainder of the act will only take effect if a majority of voters approve the bond issuance.