General Treasurer Seth Magaziner released the following statement regarding the passage of all seven bonds measures that went for referendum today:
"Today, Rhode Islanders had the opportunity to build a stronger, brighter future for our state, and we did just that," said Treasurer Seth Magaziner. "In times of great crisis, we need to be bold and with these bond measures, Rhode Islanders are spurring local job creation, making ourselves more competitive in the regional and global market and jumpstarting a broad-based recovery from COVID-19. I am excited to see so many Rhode Islanders get back to work after what has been an incredibly difficult year and for the improvements to our quality of life that will come with each of these investments."
Today's election is the culmination of a month-long public awareness campaign Treasurer Magaziner led, highlighting the potential for a broad-based economic recovery through the use of bonding. These new bonds offer historically low interest rates and will put thousands of Rhode Islanders affected by the COVID-19 pandemic back to work. Earlier today, Treasurer Magaziner also announced the State has refinanced existing state bonds to a lower interest rate, saving Rhode Island taxpayers over six million dollars to put back into the state's coffers, reducing the state budget deficit for FY2021, and preparing the State for the newly approved bonds.
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