Providence Now Eligible for State Takeover and Suspension of Municipal Democracy

Barbara Polichetti of the Projo is reporting that Moody’s has downgraded the City of Providence’s bond rating. Combined with the budget deficits projected for this year and next, this means that the City of Providence now meets the conditions for state intervention specified in the”fiscal stabilization law” passed last year, ranging from the creation of a budget commission, to takeover by a receiver.

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Chuck
Chuck
11 years ago

Thank you David Cicilline

Tommy Cranston
Tommy Cranston
11 years ago

Excuse me if I don’t mourn the potential loss of the biggest set of hacks this side of Shi*cago. I speak of the Honorable (sic) Providence City Council.

Dan
Dan
11 years ago

Progressive/gangster Rhode Island moves yet another step closer to North Korea.
In 20-30 years, it will show up as a dark region on the satellite map next to Massachusetts and Connecticut.
I suggest leaving within the next decade. The fences will be going up soon to mitigate the flight of productive taxpayers.

Warrington Faust
Warrington Faust
11 years ago

I am available, at a rate commensurate with that being paid in Central Falls.

Monique
Editor
11 years ago

“Providence Now Eligible for State Takeover and Suspension of Municipal Democracy”
Damn you, Chuck!
Indeed, even worse than jacking the interest rate at which that city will have to borrow money, David “I’m so very very very very very proud” Cicilline has set the stage in Providence for outrageous receivers fees and for taxation without representation.

Monique
Editor
11 years ago

(Great point, Andrew.)

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