State authorizes bond issue for FM Global project

PROVIDENCE — Issuance of $35 million in bonds by the state Economic Development
Corporation for use by FM Global, a Johnston insurance company, has been authorized
by the General Assembly. The Assembly approved the bond issue shortly before adjourning.
The bond issue would be used by FM Global in its construction of a research center
in Glocester, the Providence Journal reported. FM Global plans to repay the bond
issue with rents it collects from the development.