State Lines Up First Step of Woonsocket Receivership

So reports the Valley Breeze’s Sandy Phaneuf.

While Woonsocket’s legislative delegation continues to debate the merits of a supplemental tax bill, State Revenue Director Rosemary Booth Gallogly is reportedly preparing for the worst and has already begun choosing members for a Budget Commission to help guide the city out of fiscal crisis.
The commission would consist of five members including Mayor Leo Fontaine and City Council President John Ward. The chairperson of the commission would be an outsider to Woonsocket government, as would the two remaining selections.

One of the steps that would head off a Budget Commission – a 13% supplemental tax that would form the basis for the city’s tax rate going forward – requires approval from the General Assembly. A bill to enable this was filed in the Senate but

No corresponding legislation has been filed in the state House of Representatives and time is rapidly running out for a city on the brink of complete financial collapse.

(Does anyone know what’s happening with a prospective House bill?)
Indeed, tempus fugit on the cash flow front,

… the city only has enough money to sustain operations until the end of May, and must prepare a back-up plan

… the back-up plan, of course, being receivership.

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