A referendum is the way our legislative bodies (the General Assembly or City Council) ask voters to approve or reject proposals such as constitutional amendments, home rule charter amendments, borrowings (bonds and notes), and special laws affecting the City.
A referendum is always asked as a question to voters. There is one local question that will appear on the ballot for the June 4, 2024 Cranston Special Referendum Election. Voter information regarding Cranston’s local referendum is included in this legal notice.
Approve: Your vote to “Approve” means that you support the city issuing General Obligation Bonds and/or Notes or other indebtedness to finance the projects listed in the local bond question. If a majority of Cranston voters voting in the election vote to approve a question, that question will be certified by the Cranston Board of Canvassers as having passed and bonding authority related to that question will be granted.
Reject: Your vote to “Reject” means that you are opposed to the city issuing General Obligation Bonds and/or Notes or other indebtedness to finance the projects listed in the local bond question. If a majority of Cranston voters voting in the election vote to reject a question, that question will be certified by the Cranston Board of Canvassers as having been rejected, and no bonding authority related to that question will be granted.
LOCAL QUESTION
SCHOOLS AND SCHOOL FACILITIES
$40,000,000 BONDS AND NOTES
(Local Acts 010/011 - Acts and Resolves of 2024)
Shall an act passed at the 2024 session of the General Assembly entitled ‘An act authorizing the City of Cranston to issue not to exceed $40,000,000 general obligation bonds, notes and other evidences of indebtedness to finance the purchase and/or acquisition of land and buildings, construction, renovation, improvement, alteration, repair, landscaping, furnishing and/or equipping of schools and school facilities throughout the city, subject to approval of state housing aid at a reimbursement rate or state share ratio of not less than 50% at the time of issuance’ be approved?
Explanation and purpose of the Local Question: These bonds (and any notes or other indebtedness, collectively sometimes referred to as “debt”) will be used to finance the purchase and/or acquisition of land and buildings, construction, renovation, improvement, alteration, repair, landscaping, furnishing, and equipping of schools and school facilities throughout the City (collectively, the “Projects”). These bonds or other debt will not be issued unless the City has received a letter from the Rhode Island Department of Education (“RIDE”) confirming that the then current State Housing Aid at a Reimbursement Rate or State Share Ratio is not less than 50% of debt service (principal and interest) for those expenditures that are eligible for reimbursement. That Reimbursement Rate or State Aid Ratio must be in effect when the debt is issued. The $40,000,000 of bonds or other debt is to provide the funds to finance up to $40,000,000 of the Projects in the School Department’s Stage II Submission to the Rhode Island Department of Education (“RIDE”) entitled “Necessity of School Construction” (the “Plan”) which was submitted prior to February 15, 2024, and thereafter amended and the City’s FYE 2025 Capital Improvement Plan (“CIP”). The Plan is subject to RIDE approval which approval is expected in May 2024. The Plan may need amendment to obtain RIDE approval. Hence as of May 8, 2024 the following Projects and amounts therefore are tentative and subject to change if needed in order to obtain RIDE approval and to approval in the City’s Capital Plan. The Plan as submitted to RIDE and the City’s approved FYE 2025 CIP calls for the following Projects to be financed by these bonds: $13,937,500.00 for the purchase, renovation, furnishing and equipping of the Cranston Apprenticeship Exploration School (“AES”) at 4 Sharpe Drive which is now rented by the School Department; $15,540,000.00 for the construction, improvements, furnishing and/or equipping of the Eden Park Elementary School Phase 3; $6,587,250.00 for certain portions of the new Gladstone Elementary School; and $1,672,500.00 for the Cranston High School West parking lot project. The funds expected to be provided by this Bond for the new Gladstone School are in addition to remaining funds available from prior bond authorizations. The RIDE approval is expected to require that all Projects be completed by June 30, 2029. Design of the Projects is expected to occur in the period Fall 2024 to Spring 2026. The purchase of 4 Sharpe Drive is expected to occur in June 2024 and the renovation / construction to begin in Summer 2025 and be completed by December 31, 2025. Construction at Eden Park Elementary School Phase 3 is expected to begin by Summer 2025 and be completed by Summer 2026. Construction at Gladstone Elementary School is expected to begin in Summer 2026 and be completed in Summer 2027. The Cranston High School West parking lot project is expected to be designed by Summer 2025 and begin construction thereafter.
Up to $40,000,000 will be borrowed for the Projects. Although each component of the Projects has a different useful life, the average useful life of the schools and school facilities to be financed will be not less than 30 years. The useful life of information systems is approximately six years. The useful life of parking lot improvements is approximately 15 years. The useful life of building improvements depends on the nature of the improvement.
* Cost of issuance estimated at 0.05% of principal issued.
** Assumes an interest rate of 4.50%, with Bonds amortized with level payments over 30 years.
To locate your Special Election polling location, to determine your voter registration status, to find early voting information, or to view a sample ballot, visit vote.ri.gov, or call the City of Cranston Canvassing Authority at 401-780-3121. Office hours are Monday through Friday, 8:30 a.m. to 4:30 p.m. in Room 100 at Cranston City Hall, 869 Park Ave, Cranston, RI 02910-2786.
You must be registered to vote from your actual place of residence. Voter fraud is a felony and the penalty for voter fraud is imprisonment for a term of not more than ten (10) years, or a fine of not less than one thousand dollars ($1,000) nor more than five thousand dollars ($5,000), or both, for each offense. (R.I. Gen. Laws § 17-26-1)
This notice is posted and published in accordance with R.I. Gen. Laws § 17-8-10 by the Cranston Board of Canvassers. Kirk McDonough, Chairperson; Quilcia I. Moronta and Steven E. Piscopiello, Members.
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