Cranston council unanimously sends $51 million bond package to Nov. 3 ballot

The Cranston City Council voted unanimously on July 20 to place a multi-item bond package before voters on the Nov. 3 general election ballot. The finance committee, led by Councilman Andahar, framed the measures as money for "nuts-and-bolts" needs — storm drains, street and school repairs, playgrounds and fire and safety equipment — rather than discretionary projects.

Councilman Andahar said the package authorizes questions to "ask the voters" whether the city should be able to borrow the funds, adding that any borrowing after a successful vote would return to the council for project-by-project approval. "And any bond, if the voters do, in fact, decide that they are going to approve all or any of these, that will come back before the council before we exercise any bonding," he said.

Council members repeatedly stressed oversight. Councilman Bonanno told residents the ballot is the first step: "Should the council pass this resolution putting these on the ballot, that doesn't mean that we're gonna be borrowing all this money... it's one step in many steps before this money is borrowed and before it is spent." Vice President Haroyan and others noted past problems with grant spending and said they expect stricter controls if bonding proceeds.

Officials gave a fiscal example during debate: the finance office estimated roughly $65,000 per year in principal-and-interest debt service for every $1 million borrowed at an assumed 4% interest rate over 25 years. That figure was used to illustrate the potential long-term cost if the total authorization were fully drawn; council discussion referenced a total authorization figure in the neighborhood of $51,000,000 across multiple categories, though officials emphasized voters would limit any actual borrowing.

The council also discussed whether interest income from enterprise funds (such as the sewer fund) could be used for certain stormwater projects. Director Nzulli said an earlier draft ordinance from a prior solicitor might permit limited use of interest income, but he and Director Murry emphasized that the sewer fund's principal remains restricted and that a formal ordinance would be required before any permanent fund reallocation.

The clerk called the roll after motions and seconds were recorded; the measure passed by roll call. The council approved the placement of the bond questions on the ballot and will return to review any borrowing proposals and project estimates if voters authorize bond funds.

Next steps: the ballot language will be finalized for the November ballot; if voters approve any question the administration must present specific projects and cost estimates for council approval before borrowing.