Summary: 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 must be payable within a timeframe of three to thirty years, with the specifics of the bond issuance, including sale amounts, interest rates, and other terms, determined by the city council.

The proceeds from these bonds will be allocated for the specified projects and related costs, with the city treasurer responsible for managing the funds. The bill also includes provisions for the city to apply for federal or state assistance and to issue temporary notes in anticipation of the bond issuance. It specifies that the bonds and notes will not count against the city's borrowing capacity and mandates that the city must appropriate sufficient funds annually to cover the principal and interest on the bonds.

Sections 13 and 14 of the act will take effect upon passage, while the remainder of the act will take effect upon approval of the question provided for in section 13 at the next general election or a special election.