McKee signs Providence pension bond bill

GOV. DANIEL J. MCKEE on Wednesday signed into law the legislation allowing the city of Providence to borrow $515 million in the form of a pension obligation bond. / AP FILE PHOTO / STEVEN SENNE
PROVIDENCE – State leaders have given the capital city the green light to borrow half a billion dollars to pay off its longstanding pension debt. Gov. Daniel J. McKee on Wednesday signed into law the $515 million pension obligation bond plan, spokeswoman Alana O'Hare confirmed in an email on Thursday. With the state-enabling law and…

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