Council signs off on $160M bond for school overhaul
PROVIDENCE, R.I. (AP) — The Providence City Council has approved a measure that would authorize city officials to borrow $160 million to upgrade school infrastructure.
The vote Monday night means the bond referendum will now go before voters for the final OK in November.
City Council President David Salvatore says most of the schools in Providence were built in the last century and many are in need of basic improvements if not major overhauls.
Salvatore says the bond measure, if approved by votes, will help transform schools into “cutting-edge facilities that will serve a new generation of students.”
Mayor Jorge Elorza says school buildings are a priority of his administration.
The Providence Journal reports the state could refund up to 83 percent of the borrowing and the city’s tax rate should not be impacted.