The bill authorizes the city of Pawtucket to issue not more than $2,000,000 in general obligation bonds and notes to finance the renovation, construction, reconstruction, and equipping of public recreation facilities, including land acquisition and all related costs. The bonds may be issued in various forms, such as serial or term bonds, and will be payable within a timeframe determined by the city council, which will also set the specifics of the bond issuance, including sale amounts, interest rates, and other terms.

The proceeds from these bonds will be allocated to the specified projects and related costs, with the city treasurer responsible for managing the funds. The bill also outlines the process for the city council to authorize the issuance of temporary notes in anticipation of the bonds and allows for the application of general treasury funds for the project, which must be repaid from bond proceeds.

Furthermore, the act stipulates that the question of its approval will be submitted to the city's electors at the next general election, detailing the election process and the act's effective dates. Sections 13 and 14 will take effect upon passage, while the remainder of the act will take effect upon voter approval.