This bill authorizes the town of Narragansett to issue bonds and notes not exceeding $3,000,000 for the purpose of financing the equipping, expansion, improvement, and renovation of fire stations within the town. The bonds may be issued in various forms, including serial or term bonds, and must be payable within a timeframe of five to thirty years. The town council will have the authority to determine the specifics of the bond issuance, including amounts, interest rates, and terms, while the proceeds from the bonds will be allocated exclusively for the specified fire station projects and related costs.

The bill also outlines the procedures for the issuance of temporary notes in anticipation of the bonds and allows the town treasurer, with town council approval, to apply existing funds for the projects until the bonds are issued. The act stipulates that the question of approving this bond issuance will be presented to the town's electors during a general election. Sections 11 and 12 of the act will take effect upon passage, while the remaining provisions will become effective only upon voter approval.