The bill authorizes the city of Pawtucket to issue not more than $5,000,000 in general obligation bonds and notes to finance the construction, renovation, improvement, repair, alteration, furnishing, and equipping of public buildings, as well as all costs related to these projects. The bonds may be issued in serial or term forms, with the city council responsible for determining the details of the bond issuance, including sale amounts, interest rates, and other conditions. The proceeds from these bonds will be allocated for the specified projects and related costs, with provisions ensuring that purchasers of the bonds are not responsible for the application of the proceeds.

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 federal or state assistance for the projects. It establishes that the bonds and notes will not count against the city's borrowing capacity and mandates that the city will appropriate sufficient funds annually to cover the principal and interest on the issued 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.