Vote on Providence's pension obligation bond tomorrow

[RhodyRepub]

Originally Posted by independent man

The Providence pension obligation bond was approved.

With only 4% of voters even turning up.


Just 4% of Providence Voters Turn Out—$515 Million in Pension Obligation Bonds Approved

https://www.golocalprov.com/news/jus...ation-bonds-ap

[independent man]

Originally Posted by RhodyRepub

With only 4% of voters even turning up.
Just 4% of Providence Voters Turn Out—$515 Million in Pension Obligation Bonds Approved
https://www.golocalprov.com/news/jus...ation-bonds-ap

The public unions got out the vote. It was enough.

[RhodyRepub]

Originally Posted by independent man

The public unions got out the vote. It was enough.

Yep, Providence is chugging along like a healthy banana republic.

[bostongymjunkie]

Only 4% of voters care enough to go to the polls? Pathetic.

[massnative71]

This is not a done deal, folks...


Springfield just backed out of their funding plan. I can easily see this happening in Providence and elsewhere as well, given what's happening with the Fed.



Due to Financial Uncertainty, Springfield, MA Pulls Plug on $755M in Pension Obligation Bonds


https://www.golocalprov.com/news/due...m-pension-obli


"According to the state legislation that authorizes the city to move forward with the pension obligation bonds, the interest rate for the borrowing must be 4.9% or lower. The instability of the financial markets is threatening that borrowing rate."