The bill authorizes the city of Cranston to issue general obligation bonds and temporary notes not exceeding four million dollars ($4,000,000) for the purpose of financing the acquisition, construction, improvement, renovation, repair, and alteration of playgrounds, athletic fields, and related equipment. The act outlines the procedures for issuing these bonds, including the signing authority, the use of proceeds, and the ability to consolidate these bonds with other city bonds. It specifies that the appreciation of principal on the bonds will be treated as interest and not counted as principal indebtedness for debt limit calculations.

Additionally, the bill includes provisions for the city council to authorize the issuance of temporary notes in anticipation of the bonds or federal/state aid, and it allows the city treasurer to apply existing funds for the specified purposes. The act requires that the question of approval be submitted to the city's electors at the general election on November 3, 2026, or at a special election determined by the city council. Sections 12 and 13 will take effect upon passage, while the remainder of the act will take effect only after receiving majority approval from voters.