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House and Senate to Vote on Early State Aid Legislation

The bill would give the budget commission authority to certify to the state Department of Revenue that the city needs an advance of its education aid and to determine the amount necessary.

Today the House and Senate will vote on legislation requested by the that would help the city receive its state to prevent it from running out of cash later this month. They will cast their ballots at approximately 4 p.m.

The legislation is sponsored by the chairmen of the House and Senate Finance Committees, both of whom are from East Providence, Rep. Helio Melo (D-Dist. 64, East Providence) and Sen. DanielDa Ponte (D-Dist. 14, East Providence, Pawtucket), reads the release.

The bill would give budget commissions – the panels appointed by the state to help financially troubled municipalities address their fiscal needs – the authority to certify to the state Department of Revenue that the city needs an advance of its education aid, and to determine the amount necessary. Under the legislation, if the state were to lose any interest by forwarding the advance, the general treasurer is to deduct that amount from the funds advanced, reads the release.

The advance would be more cost-effective for East Providence than borrowing more tax anticipation notes, since the city’s bond rating was .

Govstench January 12, 2012 at 01:49 PM
"This is what you have had over the years in municipalities: political reality versus financial responsibility. The officeholders chose political reality because this problem that they were warned about wasn't going to have an effect on them getting re-elected in a year. If they had started raising revenues and cutting back on services that would have cost them votes." In other words, the political calculation by local leaders over the last 15 years was let someone else deal with this when I'm out of here. (Ernest Almonte)
Arthur Dolloff January 12, 2012 at 09:10 PM
Its always about the votes: Getting them Keeping them Selling them Protecting them Using them for personal gain Using them to repay supporters. Lets face it the system is corrupt and unless we watch over it and call a clown a clown or whatever term you perfer to use, WE STILL GOTTA KEEP AN EYE ON THEM AND TELL IT LIKE WE SEE IT !

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