State treasurer Seth Magaziner said that the measures included in the new budget will do more than just fund a new debt management study. They will also provide much needed controls over the many different city and state organizations that are able to borrow money using taxpayer dollars.
"It will allow us to make sure that when, not only the state, but cities and towns and districts are issuing debt they’re doing it efficiently and using best practices and getting the best possible rates and the lowest possible fees."
Magaziner said the new tools are necessary for helping Rhode Island get a handle on over ten billion dollars in state debt. He spoke with Rhode Island Public Radio on our weekly Political Roundtable.