Referenda Questions 1 – 5 involve authorizing the State to borrow money through bonds and temporary notes to make capital investments (Chapter 084 Public Laws 2026).

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What is a bond?

A bond is like a mortgage or loan. Just like people might borrow money to get an education or buy a home, the State is asking to borrow money from a lender with the promise to pay it back over time with interest. These questions are asking you for permission to borrow and invest in different areas of our state.

Here is a table of the bond proposals and their associated costs including principal and interest. Just as with a mortgage or loan, the total cost includes the principal amount borrowed and the amount of interest paid over the term of the bond. The total cost also includes any fees, printing, or underwriting expenses associated with issuing the bonds.

 

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The total costs above are only estimates based on 20-year loans and an interest rate of 5%.

 

 

 

On the ballot, you will be asked:

“Shall the act passed by the General Assembly at the January 2026 session, allowing the State of Rhode Island to issue bonds, refunding bonds, and temporary notes to pay for the projects listed below, be approved, and the State be allowed to issue these bonds, refunding bonds, and temporary notes as outlined in the law?”