Providence Now Eligible for State Takeover and Suspension of Municipal Democracy

Carroll Andrew Morse

Barbara Polichetti of the Projo is reporting that Moody's has downgraded the City of Providence's bond rating. Combined with the budget deficits projected for this year and next, this means that the City of Providence now meets the conditions for state intervention specified in the"fiscal stabilization law" passed last year, ranging from the creation of a budget commission, to takeover by a receiver.

