This bill authorizes the town of West Warwick to issue up to $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 proceeds from these bonds will also cover attendant expenses, including but not limited to demolition, engineering, architectural, and landscaping costs.

The bill allows for the issuance of bonds in various forms, such as serial or term bonds, and permits the town to enter into financing agreements with state entities. It outlines the procedures for issuing these bonds, including the signing authority, manner of sale, and terms and conditions that the town council may establish. Importantly, the bonds will not count against the town's debt limit, and the town is required to appropriate sufficient funds annually to cover the principal and interest on the bonds.

Sections 14 and 15 of the act will take effect upon passage, while the remainder of the act will become effective only if a majority of voters approve the bond issuance in a local election.