THE RI SENATE on Tuesday approved state-enabling legislation for Providence's proposed $515 million pension obligation bond. PBN FILE PHOTO/ARTISTIC IMAGES
PROVIDENCE – The capital city’s pitch to borrow half a billion dollars to pay down its unfunded pension liability could soon become reality, with the Senate approving state-enabling legislation on Tuesday. The Senate’s passage by a 31-5 vote follows a June 1 approval by the House on the proposed $515 pension obligation bond, which requires…
Our so-called democracy has drastically failed us, when less than 4,000 voters can commit 120,000 “voters” to assume $515 million in needless public debt. The self serving politicians who saddled us with this debt should be driven from office immediately.
Want to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.
Our so-called democracy has drastically failed us, when less than 4,000 voters can commit 120,000 “voters” to assume $515 million in needless public debt. The self serving politicians who saddled us with this debt should be driven from office immediately.