This bill grants the town of South Kingstown the authority to issue bonds up to $125,000,000 for various purposes, including the acquisition, construction, improvement, renovation, furnishing, and equipping of a new high school and other school facilities. The bill also allows the town to enter into financing agreements with the Rhode Island health and educational building corporation and the Rhode Island infrastructure bank. Additionally, the bill authorizes the town council to issue interest-bearing or discounted notes in anticipation of the issuance of bonds or the receipt of federal or state aid. The amount of these notes is limited to the amount of bonds that may be issued or the estimated amount of available federal or state aid. The notes may be renewed or paid from time to time by the issuance of other notes.

This bill authorizes the town of South Kingstown to issue up to $125,000,000 in bonds and notes to finance the construction of a new high school, athletic facility, and other school facilities. The funds will also cover expenses such as design, demolition, athletic fields, landscaping, and parking. The authorization will be reduced by the amount of certain grants received from state bond proceeds, the Rhode Island Department of Education, or the Rhode Island School Building Authority. Sections 14 and 15 of the bill will take effect upon passage, while the remainder of the bill will take effect upon approval by the town's electors.